Finance Code › Title 3 › Chapter 273 › Subchapter D

Texas Finance Code § 273.305

Authorized Expenditures

Savings and Loan Supplemental Fund Act · Primary and Administrative Accounts; Issuance of Securities

(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.

Official text of the Texas Finance Code as published by the Texas Legislative Council.

Official source
Legislative history

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

Sections that refer to this one

§ 273.201