Section 60.321 - Investment in and Divestiture of Subsidiaries(a) A savings association may, only after prior written approval of the Commissioner, invest in a subsidiary.(b) Subsequent to obtaining approval for its initial investment and activity, a subsidiary may not engage in additional or substitute activities without the prior written approval of the Commissioner.(c) A savings association may, with prior written approval of the Commissioner, divest itself of a subsidiary or merge or consolidate the subsidiary with another company if the Commissioner finds that the terms and conditions of the transaction are in the best interests of the savings association.7 Tex. Admin. Code § 60.321
Adopted by Texas Register, Volume 48, Number 27, July 7, 2023, TexReg 3661, eff. 7/16/2023