Tex. Fin. Code § 123.111 · Subchapter B. OPERATIONAL POWERS
RIGHT TO ACT TO MITIGATE OR AVOID LOSS.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
This subtitle does not prohibit a credit union from investing its money, operating a business, managing or dealing in property, or taking any other action at any time that is reasonably necessary to avoid or mitigate a loss on a loan or on an investment made or obligation created in good faith and in the usual course of the credit union's business, as authorized by this subtitle or a rule adopted by the commission.
Notes and commentary — not statutory text
History
Added by Acts 2003, 78th Leg., ch. 533, Sec. 35, 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.123.htm
- Text hash
- sha256 a1451d8cebe4377bb6f89886859301d61c67bce525e0ad27f34fc2b14764bfd6
- 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.