Tex. Agric. Code § 54.008 · Chapter 54. MUTUAL LOAN CORPORATIONS
RATIO OF CAPITAL TO LOANS.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A corporation formed under this chapter shall automatically increase its capital stock at the rate of five percent of the amount of loans made by the corporation to shareholders of its common stock.
(b) The corporation's articles of incorporation and bylaws must state the requirement of Subsection (a) of this section.
Notes and commentary — not statutory text
History
Acts 1981, 67th Leg., p. 1120, ch. 388, Sec. 1, eff. Sept. 1, 1981.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/AG/htm/AG.54.htm
- Text hash
- sha256 7399cf655cab27d98213835f9eadcd3752b0b3b700ca215d98d65a3c2a90d4f1
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Cited by 1 provision
Provisions in this library whose text cites Tex. Agric. Code § 54.008. Each shows the citation as that text prints it.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.