Tex. Fin. Code § 92.054 · Subchapter B. INCORPORATION IN GENERAL
MINIMUM INITIAL CAPITAL.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The finance commission by rule shall set the minimum initial capital of a savings bank in an amount not less than the greater of:
(1) the amount required to obtain insurance of deposit accounts by the Federal Deposit Insurance Corporation; or
(2) the amount required of a national bank.
(b) The initial capital must be paid in cash before the savings bank may 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. 38, 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 ca7ad31f089e0c00bce6a4e800ea9d97b395fccb299d6156ea182570338bc268
- 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.