Texas Finance Code 93.004 – Power to Borrow
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(a) A savings bank may borrow and give security, subject to rules adopted by the finance commission.
(b) A savings bank at any time through action of its board may issue a capital note, debenture, or other capital obligation authorized by rules adopted by the finance commission.
Terms Used In Texas Finance Code 93.004
- 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.