Texas Finance Code 273.403 – Advance of Money
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(a) The corporation shall advance money on terms the board may establish to directly aid or to provide special services for a member association under conservatorship so the association may continue to operate and maintain solvency.
(b) The corporation may charge interest on the money it advances under this section.
Terms Used In Texas Finance Code 273.403
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.