Tex. Fin. Code Section 97.051
Reorganization to Become Mutual Holding Company


(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.
Added by Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 5.21, eff. September 1, 2005.

Source: Section 97.051 — Reorganization to Become Mutual Holding Company, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­97.­htm#97.­051 (accessed May 11, 2024).

Accessed:
May 11, 2024

§ 97.051’s source at texas​.gov