Texas § FI.92.103 - DECISION ON APPLICATION
Full text of Texas The Texas Constitution § FI.92.103 — DECISION ON APPLICATION, with citation guidance and answers to common questions.
§ FI.92.103. DECISION ON APPLICATION
DECISION ON APPLICATION; ISSUANCE OF CERTIFICATE OF INCORPORATION. (a) The commissioner shall approve an application under this subchapter if the commissioner finds that: (1) the business of the financial institution that is to be reorganized or merged can be effectively continued under the articles of incorporation; and (2) the reorganization or merger is in the best interest of the public and the savers, depositors, creditors, and shareholders of the financial institution that is to be reorganized or merged. (b) If the commissioner approves an application under Subsection (a), the commissioner shall: (1) state findings under that subsection in writing; and (2) issue a certificate of incorporation. (c) Notwithstanding Section 92.353 , the commissioner may approve an application to incorporate under this subchapter if the commissioner: (1) considers the institution to be reorganized or merged to be in an unsafe condition; and (2) finds from the application and all information submitted with the application that the reorganization or merger is in the best interest of the public and the savers, depositors, creditors, and shareholders of the institution that is to be reorganized or merged. (d) On issuance of the certificate of incorporation, the savings bank: (1) is a corporate body and a continuation of the former institution, subject to all its liabilities, obligations, duties, and relations; and (2) may exercise the powers of a savings bank. (e) In a merger, a shareholder of a capital stock financial institution has the same dissenter's rights as a shareholder of a domestic business corporation under the Texas Business Corporation Act. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. SUBCHAPTER D. ADMINISTRATION
Frequently Asked Questions About Texas § FI.92.103
What does The Texas Constitution § FI.92.103 cover?
Section FI.92.103 ("DECISION ON 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.92.103?
A common citation format is "The Texas Constitution § FI.92.103" (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.92.103 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.