Public-domain · open source
OpenJurist

Tex. Agric. Code § 55.006

RATIO OF CAPITAL TO LOANS

Acts 1981, 67th Leg., p. 1122, ch. 388, Sec. 1, eff

(a) The total amount of the outstanding loans or discounts of an association formed under this chapter may not exceed an amount equal to 10 times the amount of the association's paid-up unimpaired capital stock.

(b) The articles of incorporation of an association formed under this chapter must state the requirement of Subsection (a) of this section.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.