The board may cancel the membership of a member association that fails to purchase securities as required by Section 273.301 by the 10th banking day after the purchase date set by the board.
Tex. Fin. Code § 273.206
CANCELLATION OF MEMBERSHIP
Known as the Texas Savings and Loan Supplemental Fund Act
The act spans §§ 273–273 (44 sections).
Acts 1997, 75th Leg., ch. 1008, Sec. 1, 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.