Tex. Fin. Code § 62.354 · Subchapter H. REORGANIZATION, MERGER, AND CONSOLIDATION
DENIAL BY COMMISSIONER OF PLAN.
Text — Current through the 89th 2nd Called Legislative Session, 2025
The commissioner shall issue an order denying the plan if the commissioner finds that:
(1) the reorganization, merger, or consolidation would substantially lessen competition or restrain trade, and result in a monopoly or further a combination or conspiracy to monopolize or attempt to monopolize the savings and loan industry in any part of the state, unless the anticompetitive effects of the reorganization, merger, or consolidation are clearly outweighed in the public interest by the probable effect of the reorganization, merger, or consolidation in meeting the convenience and needs of the community to be served;
(2) in a merger or consolidation, the financial condition of either entity would jeopardize the financial stability of an association that is a party to the plan;
(3) the plan is not in the best interest of an association that is a party to the plan;
(4) the experience, ability, standing, competence, trustworthiness, or integrity of the management of the entities proposing the plan is such that the reorganization, merger, or consolidation would not be in the best interest of the associations that are parties to the plan;
(5) after reorganization, merger, or consolidation, the surviving entity would not be solvent, have adequate capital structure, or be in compliance with the laws of this state;
(6) the entities proposing the plan have not furnished all of the information pertinent to the application that is reasonably requested by the commissioner; or
(7) the entities proposing the plan are not acting in good faith.
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 e19dbe47f7a6a529936564f7602bc2eae0eddec229b15f6d79de75440ee0e03e
- 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
Cited by 1 provision
Provisions in this library whose text cites Tex. Fin. Code § 62.354. Each shows the citation as that text prints it.
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.