Sec. 62.405. APPROVAL BY COMMISSIONER OF PLAN

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(a) If the commissioner approves the plan of merger or consolidation, the commissioner shall issue an order approving the merger or consolidation.
(b) If the surviving association is a foreign association, the commissioner shall issue and deliver to the surviving association a certificate of authority to do business as an association in this state for the period expiring on January 31 of the next calendar year.
(c) A surviving association that is a domestic association shall operate under:
(1) the articles and bylaws of the merging or consolidating domestic association; and
(2) the laws applicable to a domestic association.

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

                    
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