Texas Finance Code

§ 64.081 — REQUIRED INVESTMENTS

FI § 64.081Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part B. SAVINGS AND LOAN ASSOCIATIONS · Ch. 64. LOANS AND INVESTMENTS · Art. E. INVESTMENT IN LOCAL SERVICE AREA

Statute text

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An association shall maintain in the association's portfolio not less than 15 percent of the association's deposits from its local service area designated under Section 64.082 in:

(1)first and second lien residential mortgage loans or foreclosed residential mortgage loans originated in the association's local service area;

(2)home improvement loans;

(3)interim residential construction loans;

(4)mortgage-backed securities secured by loans in the association's local service area; and

(5)loans for community reinvestment.

Legislative history

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