Tex. Fin. Code § 273.305 · Subchapter D. PRIMARY AND ADMINISTRATIVE ACCOUNTS; ISSUANCE OF SECURITIES
AUTHORIZED EXPENDITURES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The corporation may spend money from the administrative account for the usual business operations of the corporation.
(b) On the commissioner's request, the corporation shall use money in the administrative account or primary account to:
(1) aid a member association under conservatorship; and
(2) rehabilitate a member association placed under conservatorship as authorized by law and minimize the chance the association will be liquidated.
(c) The total amount used to aid a member association under Subsection (b)(1) may not exceed the lesser of:
(1) 10 percent of the balance of the primary account; or
(2) 20 percent of the association's assets.
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.273.htm
- Text hash
- sha256 08beeea35ff2f955f76f7dded6543ae0867a977947b3ef012fd64a168eb7e452
- 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
Cited by 1 provision
Provisions in this library whose text cites Tex. Fin. Code § 273.305. Each shows the citation as that text prints it.
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.