Tex. Agric. Code § 55.001 · Chapter 55. COOPERATIVE CREDIT ASSOCIATIONS
POWERS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
An association formed under this chapter may:
(1) borrow money for and lend money to its members;
(2) discount, rediscount, endorse, purchase, or sell notes, bills, or other evidences of indebtedness of its members that may be discounted or rediscounted under the rules prescribed by the Farm Credit Administration; and
(3) exercise the powers authorized by the general corporation laws of this state unless the law granting the power conflicts with this chapter.
Notes and commentary — not statutory text
History
Acts 1981, 67th Leg., p. 1121, 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.55.htm
- Text hash
- sha256 432f1c234f65c34c3a1ce733dca7e6db14df9c0291e829e79910e32afabf881c
- 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
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.