Sec. 62.002.  ADDITIONAL INCORPORATION REQUIREMENTS FOR CAPITAL STOCK ASSOCIATION.  (a)  A capital stock association's articles of incorporation must include a statement of:
(1)  the aggregate number of shares of common stock that the association may issue;
(2)  the par value of each share or that the shares are without par value;
(3)  whether the association may issue preferred stock;
(4)  the amount of stock that has been subscribed and will be paid for before the association begins business;
(5)  the name and address of each subscriber and the amount subscribed by each;  and
(6)  the amount of paid-in surplus with which the association will begin business.
(b)  Before approving the application of a capital stock association, the commissioner may require the association to have an aggregate amount of capital in the form of stock and paid-in surplus that the finance commission by rule specifies.
(c)  The subscriptions for capital stock and paid-in surplus, less lawful expenditures, shall be returned pro rata to the subscribers if:
(1)  the application is not approved;  or
(2)  the association does not begin business.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.