Tex. Finance Code § 92.053
This is the official text of Tex. Finance Code § 92.053, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 92.053. ADDITIONAL REQUIREMENTS FOR MUTUAL SAVINGS BANK.
Official statutory text
(a) A mutual savings bank's articles of incorporation must include a statement of the amount of deposit liability of the savings bank and the amount of the expense fund with which the savings bank will begin business.
(b) Before approving the articles of incorporation of a mutual savings bank, the commissioner shall require the savings bank to have subscriptions for an aggregate amount of deposit accounts and an expense fund in an aggregate amount the finance commission by rule establishes as necessary for the successful operation of a mutual savings bank.
(b) Before approving the articles of incorporation of a mutual savings bank, the commissioner shall require the savings bank to have subscriptions for an aggregate amount of deposit accounts and an expense fund in an aggregate amount the finance commission by rule establishes as necessary for the successful operation of a mutual savings bank.
Status: in_force · Read it on the official government site
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