Tex. Agric. Code § 55.006 · Chapter 55. COOPERATIVE CREDIT ASSOCIATIONS
RATIO OF CAPITAL TO LOANS.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The total amount of the outstanding loans or discounts of an association formed under this chapter may not exceed an amount equal to 10 times the amount of the association's paid-up unimpaired capital stock.
(b) The articles of incorporation of an association formed under this chapter must state the requirement of Subsection (a) of this section.
Notes and commentary — not statutory text
History
Acts 1981, 67th Leg., p. 1122, 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 8db5bec4e95464f7d57e11ac8ac1a1ae65e7ad56efb57a337aab42e87ca3ca14
- 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.