PLACEMENT OF SAVINGS BANK UNDER VOLUNTARY SUPERVISORY CONTROL
Known as the Texas Savings Bank Act
The act spans §§ 91–119 (255 sections).
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff
(a) A savings bank's board may consent to the commissioner's placement of the savings bank under supervisory control.
(b) The commissioner may appoint the supervisor and one or more deputy supervisors.
(c) Supervisory control continues until the conditions for which the supervisory control was imposed are corrected.
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.