Texas § FI.182.302 - MERGER APPLICATION
Full text of Texas The Texas Constitution § FI.182.302 — MERGER APPLICATION, with citation guidance and answers to common questions.
§ FI.182.302. MERGER APPLICATION
MERGER APPLICATION; GROUNDS FOR APPROVAL. (a) To apply for approval of a merger, the parties must submit the original certificate of merger, a number of copies of the certificate of merger equal to the number of surviving, new, and acquiring entities, and an application in the form required by the banking commissioner. The banking commissioner may require the submission of additional information as considered necessary to an informed decision. (b) The banking commissioner shall investigate the condition of the merging parties. (c) The banking commissioner may approve the merger if: (1) each resulting state trust company: (A) has complied with the statutes and rules relating to the organization of a state trust company; and (B) will be solvent and have adequate capitalization for its business and location; (2) all obligations and liabilities of each trust company that is a party to the merger have been properly discharged or otherwise lawfully assumed or retained by a trust institution or other fiduciary; (3) each surviving, new, or acquiring person that is not authorized to engage in the trust business will not engage in the trust business and has complied with the laws of this state; and (4) all conditions imposed by the banking commissioner have been satisfied or otherwise resolved. Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999. Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 6.013(a), eff. Sept. 1, 2001. Amended by: Acts 2013, 83rd Leg., R.S., Ch. 575 (S.B. 804 ), Sec. 24, eff. June 14, 2013.
Frequently Asked Questions About Texas § FI.182.302
What does The Texas Constitution § FI.182.302 cover?
Section FI.182.302 ("MERGER APPLICATION") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § FI.182.302?
A common citation format is "The Texas Constitution § FI.182.302" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § FI.182.302 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.