Texas Finance Code

§ 273.205 — CONSIDERATION FOR ASSISTANCE

FI § 273.205Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part Z. MISCELLANEOUS PROVISIONS RELATING TO FINANCIAL INSTITUTIONS AND BUSINESSES · Ch. 273. SAVINGS AND LOAN SUPPLEMENTAL FUND ACT · Art. C. OPERATION OF CORPORATION

Statute text

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In consideration for assistance provided to a member association under this chapter, the corporation shall receive:

(1)an equity interest in the association; or

(2)other compensation acceptable to the board from the association or another corporate entity that is a party to the transaction in which the assistance is rendered.

Legislative history

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