Tex. Finance Code § 32.006
ISSUANCE OF CERTIFICATE OF AUTHORITY
Texas · Texas Finance Code · Status: effective
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- Citation
- Tex. Finance Code § 32.006, ISSUANCE OF CERTIFICATE OF AUTHORITY, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/645048
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Full text
A state bank may not engage in the business of banking until it receives a certificate of authority from the banking commissioner. The banking commissioner may not deliver the certificate of authority until the bank has:
(1) received cash for the issuance of all authorized shares in the full amount subscribed;
(2) elected or qualified the initial officers and directors named in the application for charter or other officers and directors approved by the banking commissioner; and
(3) complied with all the other requirements of this subtitle relating to the organization of state banks.