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Texas Finance Code - FIN § 124.003. Limitations on Loans

Current as of January 01, 2024 | Updated by Findlaw Staff

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.

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Cite this article: FindLaw.com - Texas Finance Code - FIN § 124.003. Limitations on Loans - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-124-003/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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