Tex. Fin. Code § 32.006

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 32.006 - Issuance of Certificate of Authority

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.

Tex. Fin. Code § 32.006

Amended By Acts 2007, 80th Leg., R.S., Ch. 237, Sec. 11, eff. 9/1/2007.

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. 9/1/1997.