Tex. Fin. Code § 122.104 · Subchapter C. OPERATIONS AND FINANCES
NET WORTH RESERVE ALLOCATIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The commission by rule shall require a credit union to contribute to and maintain net worth reserves necessary to protect the interests of its members. The rule may:
(1) prescribe the purposes for which the net worth reserves may be used; and
(2) authorize the commissioner to approve other uses.
(b) The credit union's board may establish reserves in addition to the required net worth reserves.
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2003, 78th Leg., ch. 533, Sec. 24, eff. Sept. 1, 2003.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.122.htm
- Text hash
- sha256 f08eceeaaf2273df97e1c6ff77699af7287ff466c1e36845085c33e703863b85
- 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.