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The profits and losses of a limited banking association may be allocated among the participants and among classes of participants as provided by the participation agreement. Without the prior written approval of the banking commissioner to use a different allocation method, the profits and losses must be allocated according to the relative interests of the participants as reflected in the certificate of formation and related documents filed with and approved by the banking commissioner.
Cite this article: FindLaw.com - Texas Finance Code - FIN § 33.209. Allocation of Profits and Losses - last updated April 14, 2021 | https://codes.findlaw.com/tx/finance-code/fin-sect-33-209/
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