80th Texas Legislature, Regular Session, House Bill 1962, Chapter 237 Page: 2 of 63
This legislative document is part of the collection entitled: Texas Laws and Resolutions Archive and was provided to The Portal to Texas History by the UNT Libraries Government Documents Department.
Extracted Text
The following text was automatically extracted from the image on this page using optical character recognition software:
H.B. No. 1962
1 (9) "Capital" means:
2 (A) the sum of:
3 (i) the par value of all shares [L
4 participation sh a ] of the state bank having a par value that have
5 been issued;
6 (ii) the consideration set by the board [+-
7 ] manner provd e ~] for all
8 shares [ a]irtcptc- . hares] of the state bank without par
9 value that have been issued, except a part of that consideration
10 that:
11 (a) has been actually received;
12 (b) is less than all of that
13 consideration; and
14 (c) the board, by resolution adopted
15 not later than the 60th day after the date of issuance of those
16 shares, has allocated to surplus with the prior approval of the
17 banking commissioner; and
18 (iii) an amount not included in
19 Subparagraphs (1) and (1i) that has been transferred to capital of
20 the state bank, on the payment of a share dividend or on adoption by
21 the board of a resolution directing that all or part of surplus be
22 transferred to capital, minus each reduction made as permitted by
23 law; less
24 (B) all amounts otherwise included in Paragraphs
25 (A)(1) and (ii) that are attributable to the issuance of securities
26 by the state bank and that the banking commissioner determines,
27 after notice and an opportunity for hearing, should be classified
Upcoming Pages
Here’s what’s next.
Search Inside
This document can be searched. Note: Results may vary based on the legibility of text within the document.
Tools / Downloads
Get a copy of this page or view the extracted text.
Citing and Sharing
Basic information for referencing this web page. We also provide extended guidance on usage rights, references, copying or embedding.
Reference the current page of this Legislative Document.
Texas. Legislature. House of Representatives. 80th Texas Legislature, Regular Session, House Bill 1962, Chapter 237, legislative document, 2007-04/2007-05; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth154899/m1/2/: accessed April 18, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.