Tex. Fin. Code § 16.006 · Chapter 16. FINANCIAL REGULATORY AGENCIES: SELF-DIRECTED AND SEMI-INDEPENDENT
ABILITY TO CONTRACT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) To carry out and promote the objectives of this chapter, a financial regulatory agency may enter into contracts and do all other acts incidental to those contracts that are necessary for the administration of the agency's affairs and for the attainment of the agency's purposes, except as limited by Subsection (b).
(b) Any indebtedness, liability, or obligation of the financial regulatory agency incurred under this section may not:
(1) create a debt or other liability of this state or another entity other than the financial regulatory agency; or
(2) create any personal liability on the part of the members of the policy-making body or the body's or agency's employees.
Notes and commentary — not statutory text
History
Added by Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 28(a), eff. September 1, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.16.htm
- Text hash
- sha256 6547eb46e0d413bd2ea47589e0d714cd656b0501c69e9f23d780c45cace61e10
- 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.