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Texas Finance Code - FIN § 34.107. Engaging in Commerce Prohibited

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(a) A state bank may not buy, sell, or otherwise deal in goods in trade or commerce or own or operate a business not part of the business of banking except:

(1) as necessary to avoid or minimize a loss on a loan or investment previously made in good faith;  or

(2) as otherwise provided by this subtitle or rules adopted under this subtitle.

(b) Engaging in an approved activity, directly or through a subsidiary, that is a financial activity or incidental or complementary to a financial activity, whether as principal or agent, is not considered to be engaging in commerce.

Cite this article: - Texas Finance Code - FIN § 34.107. Engaging in Commerce Prohibited - last updated April 14, 2021 |

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