Texas Finance Code

§ 94.002 — COMMERCIAL LOANS

FI § 94.002Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part C. SAVINGS BANKS · Ch. 94. LOANS AND INVESTMENTS · Art. A. LIMITATIONS ON LOANS

Statute text

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(a)Subject to rules adopted by the finance commission, a savings bank may lend or invest not more than 40 percent of the savings bank's total assets in commercial loans.

(b)In this section, "commercial loan" means a loan that:

(1)is for business, commercial, corporate, or agricultural purposes;

(2)is not a real property loan; and

(3)is not a qualified thrift asset under Section 92.204. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 867, Sec. 54, eff. Sept. 1, 2001. Amended by:

Legislative history

Acts 2013, 83rd Leg., R.S., Ch. 464 (S.B. 1008), Sec. 10, eff. September 1, 2013.