Texas § FI.62.354 - DENIAL BY COMMISSIONER OF PLAN
Full text of Texas The Texas Constitution § FI.62.354 — DENIAL BY COMMISSIONER OF PLAN, with citation guidance and answers to common questions.
§ FI.62.354. DENIAL BY COMMISSIONER OF PLAN
DENIAL BY COMMISSIONER OF PLAN. The commissioner shall issue an order denying the plan if the commissioner finds that: (1) the reorganization, merger, or consolidation would substantially lessen competition or restrain trade, and result in a monopoly or further a combination or conspiracy to monopolize or attempt to monopolize the savings and loan industry in any part of the state, unless the anticompetitive effects of the reorganization, merger, or consolidation are clearly outweighed in the public interest by the probable effect of the reorganization, merger, or consolidation in meeting the convenience and needs of the community to be served; (2) in a merger or consolidation, the financial condition of either entity would jeopardize the financial stability of an association that is a party to the plan; (3) the plan is not in the best interest of an association that is a party to the plan; (4) the experience, ability, standing, competence, trustworthiness, or integrity of the management of the entities proposing the plan is such that the reorganization, merger, or consolidation would not be in the best interest of the associations that are parties to the plan; (5) after reorganization, merger, or consolidation, the surviving entity would not be solvent, have adequate capital structure, or be in compliance with the laws of this state; (6) the entities proposing the plan have not furnished all of the information pertinent to the application that is reasonably requested by the commissioner; or (7) the entities proposing the plan are not acting in good faith. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. SUBCHAPTER I. ADDITIONAL PROVISIONS FOR MERGER OR CONSOLIDATION OF DOMESTIC AND FOREIGN ASSOCIATIONS
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § FI.62.354
What does The Texas Constitution § FI.62.354 cover?
Section FI.62.354 ("DENIAL BY COMMISSIONER OF PLAN") 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.62.354?
A common citation format is "The Texas Constitution § FI.62.354" (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.62.354 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.