POWER TO BORROW
Known as the Texas Savings Bank Act
The act spans §§ 91–119 (255 sections).
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff
(a) A savings bank may borrow and give security, subject to rules adopted by the finance commission.
(b) A savings bank at any time through action of its board may issue a capital note, debenture, or other capital obligation authorized by rules adopted by the finance commission.
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.