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Texas Finance Code - FIN § 93.009. Right to Act to Avoid Loss

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(a) This subtitle does not deny a savings bank 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 loan or on an investment made or obligation created in good faith in the usual course of the bank's business, as authorized by this subtitle or a rule adopted under this subtitle.

(b) This subtitle does not prohibit a savings bank from:

(1) developing or building on land it has acquired under this section;  or

(2) completing the construction of a building under a construction loan contract in which the borrower has not complied with the contract.

Cite this article: - Texas Finance Code - FIN § 93.009. Right to Act to Avoid Loss - last updated April 14, 2021 |

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