The commission by rule may authorize a credit union to issue certificates of indebtedness that are subordinated to all other claims of credit union creditors.
Tex. Fin. Code § 123.211
CERTIFICATES OF INDEBTEDNESS
Known as the Texas Credit Union Act
The act spans §§ 121.001 to 149.002 (219 sections).
Added by Acts 2003, 78th Leg., ch. 533, Sec. 36, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.