Texas Finance Code 182.105 – Board Designation of Certified Surplus
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Terms Used In Texas Finance Code 182.105
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
Periodically the board may vote to designate and record in its minutes the amount of certified surplus. Except to absorb losses in excess of undivided profits and uncertified surplus, certified surplus may not be reduced without the prior written approval of the banking commissioner.