Tex. Fin. Code § 92.052 · Subchapter B. INCORPORATION IN GENERAL
ADDITIONAL REQUIREMENTS FOR CAPITAL STOCK SAVINGS BANK.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A capital stock savings bank's articles of incorporation must include a statement of:
(1) the aggregate number of shares of common stock that the savings bank may issue;
(2) the par value of each share or that the shares are without par value;
(3) whether the savings bank may issue preferred stock;
(4) the amount of stock that has been subscribed and will be paid for before the savings bank begins business;
(5) the name and address of each subscriber and the amount subscribed by each; and
(6) the amount of paid-in surplus with which the savings bank will begin business.
(b) Before approving the application of a capital stock savings bank, the commissioner shall require the savings bank to have an aggregate amount of capital in the form of stock and paid-in surplus the finance commission by rule specifies.
(c) The subscriptions for capital stock, less any lawful expenditures, shall be returned pro rata to the subscribers if:
(1) the application is not approved; or
(2) the savings bank does not begin business.
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 867, Sec. 36, eff. Sept. 1, 2001.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.92.htm
- Text hash
- sha256 b0210da148c3987a5e2cce6740bd51c98d1d6ad266fc7779fbd93e31f878e6b8
- 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.