EQUITY CAPITAL
Known as the Texas Credit Union Act
The act spans §§ 121–149 (219 sections).
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff
A credit union's equity capital consists of:
(1) retained earnings;
(2) appropriated retained earnings, including net worth and other reserves;
(3) undivided earnings; and
(4) other forms of capital in accordance with generally accepted accounting principles and approved by the commissioner.
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.