Tex. Fin. Code § 122.152 · Subchapter D. MERGER OR CONSOLIDATION
APPLICATION TO MERGE OR CONSOLIDATE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) After agreement by the directors and approval by the members, if applicable, of each credit union or federal credit union, the chairman and secretary of each credit union or federal credit union shall execute a certificate of merger or consolidation that:
(1) includes a copy of the resolution or other action by which the board agreed to the merger or consolidation plan; and
(2) states:
(A) the time and place of the board meeting at which the board agreed to the merger or consolidation plan;
(B) the board's vote for and against adoption of the plan;
(C) the time and place of the meeting at which the members approved the plan, if applicable;
(D) the membership's vote for and against approval of the plan, if applicable; and
(E) the name of the surviving credit union.
(b) The merging credit union or a consolidating credit union shall submit the certificates and a copy of the merger or consolidation plan to the commissioner.
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2003, 78th Leg., ch. 533, Sec. 26, eff. Sept. 1, 2003.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.122.htm
- Text hash
- sha256 c2f2bbc39107db0e81bae93ca927f7f2429a0b558c2bcde0f3cc30d55657e72c
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.