Texas Finance Code

§ 34.003 — OTHER REAL PROPERTY

FI § 34.003Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part A. BANKS · Ch. 34. INVESTMENTS, LOANS, AND DEPOSITS · Art. A. ACQUISITION AND OWNERSHIP OF BANK FACILITIES AND OTHER REAL PROPERTY

Statute text

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(a)A state bank may not acquire real property except:

(1)as permitted by this subtitle or rules adopted under this subtitle;

(2)with the prior written approval of the banking commissioner; or

(3)as necessary to avoid or minimize a loss on a loan or investment previously made in good faith.

(b)With the prior written approval of the banking commissioner, a state bank may:

(1)exchange real property for other real property or personal property;

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Legislative history

Acts 2013, 83rd Leg., R.S., Ch. 940 (H.B. 1664), Sec. 7, eff. June 14, 2013.