§ 103.202. Merger Requirements.

Latest version.

(a) A merger will not ordinarily be approved if any of the constituent associations have been incorporated for less than three years.
(b) The surviving association, after giving effect to the merger, shall possess a net worth which is not less than an amount to be determined by the commissioner after consideration of the facts in each case.

HISTORY

1. Change without regulatory effect renumbering former Section 202 to Section 103.202 (Register 87, No. 14). For prior history, see Register 77, No. 11.

Note

Note: Authority cited: Section 5255, Financial Code. Reference: Sections 9200-9218, Financial Code.

                    
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