(a) The commissioner may intervene in the affairs of a savings bank if the savings bank or a person who participates in the affairs of the savings bank or a subsidiary or holding company of the savings bank:
(1) engages in or is about to engage in an unsafe and unsound practice in conducting the affairs of the savings bank; or
(2) violates or is about to violate:
(A) the articles of incorporation or bylaws of the savings bank;
(B) a law or supervisory order applicable to the savings bank; or
(C) a condition that the commissioner or the finance commission has imposed on the savings bank by written order, directive, or agreement.
(b) The commissioner may intervene in the affairs of a savings bank if a person who participates in the affairs of the savings bank or a subsidiary or holding company of the savings bank violates or is about to violate an order or instruction of the commissioner or a conservator or supervisor in charge of the savings bank's affairs.
Official text of the Texas Finance Code as published by the Texas Legislative Council.