Tex. Fin. Code § 124.003

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 124.003 - Limitations on Loans

A credit union may not make a loan to a member or a business interest of the member if the loan would cause the aggregate amount of loans to the member and the member's business interests to exceed:

(1) an amount equal to 10 percent of the credit union's total assets; or

(2) a lesser amount established by commission rule.

Tex. Fin. Code § 124.003

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. 9/1/1997.