Tex. Fin. Code § 62.558 · Subchapter L. CHANGE OF CONTROL OF ASSOCIATION
UNAUTHORIZED CHANGE OF CONTROL.
Text — Current through the 89th 2nd Called Legislative Session, 2025
If it appears that a change in control may have taken place without approval, the commissioner may call a hearing to determine whether:
(1) a change in control has occurred without approval or an unauthorized person without any apparent ownership interest in the association, acting alone or with others, effectively has indirect controlling or dominating influence over the management or policies of the association; and
(2) if control or indirect controlling or dominating influence has been acquired as provided by Subdivision (1), an appropriate supervisory order should be issued, including an order requiring a divestiture of that control or indirect controlling or dominating influence.
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 3ed32bd9b4b29338fad49b013c3e0619756cfc1b885181bc5a0c7d3711544e05
- 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.