Texas Finance Code 63.007 – Right to Act to Avoid Loss
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Texas Finance Code 63.007
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Property: means real and personal property. See Texas Government Code 311.005
- Statute: A law passed by a legislature.
This subtitle or another statute of this state does not deny an association the right to invest its money, operate a business, manage or deal in property, or take other action during any period that is reasonably necessary to avoid loss on a prior loan or investment or on an obligation created in good faith.