Tex. Bus. Orgs. Code § 23.051 · Subchapter B. BUSINESS DEVELOPMENT CORPORATIONS
DEFINITIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
In this subchapter:
(1) "Corporation" means a business development corporation organized under this subchapter.
(2) "Financial institution" means a banking corporation or trust company, savings and loan association, governmental agency, insurance company, or related corporation, partnership, foundation, or other institution engaged primarily in lending or investing funds.
(3) "Loan limit" means the maximum amount permitted to be outstanding at one time on loans made by a member to a corporation.
(4) "Member" means a financial institution authorized to do business in this state that undertakes to lend money to a corporation.
Notes and commentary — not statutory text
History
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/BO/htm/BO.23.htm
- Text hash
- sha256 2bdb87a0712e9697dfb715b8ffce4925cb7e8649a3dd363683d0b05835991ba3
- 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.