Texas Finance Code

§ 33.211 — APPLICATION OF OTHER PROVISIONS TO LIMITED BANKING ASSOCIATIONS

FI § 33.211Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part A. BANKS · Ch. 33. OWNERSHIP AND MANAGEMENT OF STATE BANK · Art. C. LIMITED BANKING ASSOCIATION

Statute text

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For purposes of the provisions of Subtitle A and this subtitle other than this subchapter, as the context requires:

(1)a manager is considered to be a director and the board of managers is considered to be the board of directors;

(2)a participant is considered to be a shareholder;

(3)a participation share is considered to be a share; and

(4)a distribution is considered to be a dividend. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by:

Legislative history

Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 35, eff. September 1, 2007.