Tex. Finance Code § 92.559
This is the official text of Tex. Finance Code § 92.559, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 92.559. UNAUTHORIZED CHANGE OF CONTROL.
Official statutory text
If it appears that a change in control may have occurred without prior approval, the commissioner may call a hearing to determine whether:
(1) a change in control has occurred or an unauthorized person without any apparent ownership interest in the savings bank, acting alone or with others, effectively has indirect controlling or dominating influence over the management or policies of the savings bank; and
(2) an appropriate supervisory order should be issued, including an order requiring divestiture of unapproved or indirect control.
(1) a change in control has occurred or an unauthorized person without any apparent ownership interest in the savings bank, acting alone or with others, effectively has indirect controlling or dominating influence over the management or policies of the savings bank; and
(2) an appropriate supervisory order should be issued, including an order requiring divestiture of unapproved or indirect control.
Status: in_force · Read it on the official government site
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