A person may apply to incorporate a savings bank for the purpose of:
(1) purchasing the assets, assuming the liabilities other than liability to shareholders, and continuing the business of a financial institution the commissioner considers to be in an unsafe condition;
(2) acquiring an existing financial institution by merger; or
(3) facilitating a reorganization or merger with or into a savings bank under rules adopted by the finance commission.
Official text of the Texas Finance Code as published by the Texas Legislative Council.