Texas Finance Code

§ 124.053 — ADDITIONAL LOAN APPLICATION NOT REQUIRED

FI § 124.053Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part D. CREDIT UNIONS · Ch. 124. LOANS AND INVESTMENTS · Art. B. OPEN-END CREDIT PLAN OR LINE OF CREDIT

Statute text

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An additional loan application is not required under an open-end credit plan under Section 124.051 or line of credit under Section 124.052 if the aggregate obligation does not exceed a limit of the extension of credit the credit union establishes.

Legislative history

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