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Tex. Fin. Code § 94.002

COMMERCIAL LOANS

Known as the Texas Savings Bank Act

The act spans §§ 91–119 (255 sections).

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff

(a) Subject to rules adopted by the finance commission, a savings bank may lend or invest not more than 40 percent of the savings bank's total assets in commercial loans.

(b) In this section, "commercial loan" means a loan that:

(1) is for business, commercial, corporate, or agricultural purposes;

(2) is not a real property loan; and

(3) is not a qualified thrift asset under Section 92.204.

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