Texas Finance Code 62.251 – Application to Convert
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(a) A federal association or state or national bank may convert to an association if the conversion is approved by a majority vote of the members or shareholders of the federal association or state or national bank cast 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 and with the appropriate banking agency 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 62.251
- 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 conversion was approved.