Texas Finance Code 62.302 – Application to Convert to State or National Bank or State or Federal Savings Bank
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(a) An association may convert to a state or national bank or state or federal savings bank if a resolution favoring the conversion is adopted by a majority vote of the members or shareholders of the association who are entitled to vote at an annual meeting or a special meeting called to consider the conversion.
(b) The application to convert must:
(1) be filed in the office of the commissioner not later than the 10th day after the date of the meeting; and
(2) include a copy of the minutes of the meeting, sworn to by the secretary or an assistant secretary.
Terms Used In Texas Finance Code 62.302
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
- sworn: includes affirm or affirmed. See Texas Government Code 312.011
(c) The copy of the minutes filed under Subsection (b) is presumptive evidence that the meeting was held and the resolution was adopted.