Sec. 62.254.  APPLICABILITY OF SUBTITLE TO CONVERTED ASSOCIATION.  (a)  To the extent applicable, this subtitle applies to an association incorporated under this subchapter.
(b)  An association incorporated under this subchapter:
(1)  is a continuation of the entity that was converted;  and
(2)  has the property and rights of that entity.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.