Tex. Finance Code § 62.404
DENIAL BY COMMISSIONER OF APPLICATION
Texas · Texas Finance Code · Status: effective
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- Citation
- Tex. Finance Code § 62.404, DENIAL BY COMMISSIONER OF APPLICATION, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/645368
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Full text
If the surviving association is a foreign association, the commissioner shall deny the application if:
(1) the laws of the state in which the foreign association has its principal place of business do not permit a savings and loan association of that state to merge or consolidate with a domestic association if the surviving association is a domestic association; or
(2) the foreign association is controlled by a savings and loan holding company that has its principal place of business in a state whose laws do not permit a savings and loan association of that state to merge or consolidate with a domestic association if the surviving association is a domestic association.