Tex. Finance Code § 97.051
This is the official text of Tex. Finance Code § 97.051, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 97.051. REORGANIZATION TO BECOME MUTUAL HOLDING COMPANY.
Official statutory text
(a) Notwithstanding any other law, a savings bank may be reorganized as a mutual holding company by submitting to the commissioner an application for approval of reorganization.
(b) Before submission, an application for reorganization must be approved by a majority vote of the members or shareholders of the savings bank cast at an annual meeting or a special meeting called to consider the reorganization.
(b) Before submission, an application for reorganization must be approved by a majority vote of the members or shareholders of the savings bank cast at an annual meeting or a special meeting called to consider the reorganization.
Status: in_force · Read it on the official government site
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