Texas Finance Code

§ 94.251 — LIMITATIONS ON INVESTMENT IN EQUITY SECURITIES

FI § 94.251Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part C. SAVINGS BANKS · Ch. 94. LOANS AND INVESTMENTS · Art. F. INVESTMENT IN EQUITY SECURITIES

Statute text

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(a)A savings bank or a subsidiary may not invest in an equity security unless the security qualifies as an investment grade security under rules adopted by the finance commission.

(b)A savings bank may not invest in an equity security unless the security is an eligible investment for a federal savings and loan association.

Legislative history

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 867, Sec. 56, eff. Sept. 1, 2001.