Texas Finance Code 124.003 – Limitations On Loans
Current as of: 2024 | Check for updates
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Terms Used In Texas Finance Code 124.003
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Rule: includes regulation. See Texas Government Code 311.005
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.