Tex. Fin. Code § 62.009 · Subchapter A. INCORPORATION IN GENERAL

DEADLINE FOR COMMENCING BUSINESS.

Verbatim from the official edition

Text — Current through the 89th 2nd Called Legislative Session, 2025

(a) An association shall begin business not later than the first anniversary of the date the commissioner approves the association's application.

(b) On the request of the incorporators and for good cause shown, the commissioner may grant a reasonable extension of the deadline prescribed by Subsection (a).

(c) The commissioner may rescind the authority to operate of an association that does not begin business as required by this subtitle.

Notes and commentary — not statutory text

History

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

Source of truth

Edition: Current through the 89th 2nd Called Legislative Session, 2025
Official file: https://statutes.capitol.texas.gov/Docs/FI/htm/FI.62.htm
Text hash: sha256 a7a84e51ffbdb68916a266c355d0409656326facd89d4fc4efed028e6978f64d
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.