Tex. Fin. Code § 92.306 · Subchapter G. CONVERSION OF OTHER FINANCIAL INSTITUTION TO SAVINGS BANK
PROPERTY AND OBLIGATIONS OF CONVERTED INSTITUTION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The property of another financial institution that converts to a savings bank vests in the savings bank.
(b) The savings bank:
(1) holds the property in its own right to the extent the property was held by the financial institution that was converted; and
(2) on the date the conversion takes effect, succeeds to the rights, obligations, and relations of the financial institution that was converted.
(c) In this section, the property of a financial institution includes each right, title, or interest of the institution in and to property, including things in action, and each right, privilege, interest, or asset of the institution that exists or that inures to the benefit of the institution.
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.92.htm
- Text hash
- sha256 15b3adf610efe2e94ebe40bf981ea4daa2cc9be31de52493966f0ecdaf7cf7b1
- 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 § 92.306. 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.