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Texas Finance Code - FIN § 94.151. Advances Paid by Savings Bank

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

(a) A savings bank may pay taxes, assessments, insurance premiums, and similar charges for the protection of the savings bank's interest in property that secures a real property loan of the savings bank.

(b) A payment under Subsection (a) is an advance, and the savings bank may:

(1) carry the payment on the savings bank's books as an asset of the savings bank for which the savings bank may charge interest; or

(2) add the payment to the unpaid balance of the loan to which it applies as of the first day of the month in which the payment is made.

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Cite this article: FindLaw.com - Texas Finance Code - FIN § 94.151. Advances Paid by Savings Bank - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-94-151/

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