Texas Finance Code
§ 184.201 — LENDING LIMITS
FI § 184.201Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part F. TRUST COMPANIES · Ch. 184. INVESTMENTS, LOANS, AND DEPOSITS · Art. C. LOANS
Statute text
View on source(a)A state trust company's total outstanding loans and extensions of credit to a person other than an insider may not exceed an amount equal to 15 percent of the state trust company's restricted capital.
(b)The aggregate loans and extensions of credit outstanding at any time to insiders of the state trust company may not exceed an amount equal to 15 percent of the state trust company's restricted capital. All covered transactions between an insider and a state trust company must be engaged in only on terms and under circumstances, including credit standards, that are substantially the same as those for comparable transactions with a person other than an insider.
(c)The finance commission may adopt rules to administer this section, including rules to:
(1)establish limits, requirements, or exemptions other than those specified by this section for particular classes or categories of loans or extensions of credit; and
(2)establish collective lending and investment limits.
(d)The banking commissioner may determine whether a loan or extension of credit putatively made to a person will be attributed to another person for purposes of this section.
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Legislative history
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.