Tex. Finance Code § 92.054
This is the official text of Tex. Finance Code § 92.054, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 92.054. MINIMUM INITIAL CAPITAL.
Official statutory text
(a) The finance commission by rule shall set the minimum initial capital of a savings bank in an amount not less than the greater of:
(1) the amount required to obtain insurance of deposit accounts by the Federal Deposit Insurance Corporation; or
(2) the amount required of a national bank.
(b) The initial capital must be paid in cash before the savings bank may begin business.
(1) the amount required to obtain insurance of deposit accounts by the Federal Deposit Insurance Corporation; or
(2) the amount required of a national bank.
(b) The initial capital must be paid in cash before the savings bank may begin business.
Status: in_force · Read it on the official government site
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