Tex. Finance Code § 16.006
This is the official text of Tex. Finance Code § 16.006, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 16.006. ABILITY TO CONTRACT.
Official statutory text
(a) To carry out and promote the objectives of this chapter, a financial regulatory agency may enter into contracts and do all other acts incidental to those contracts that are necessary for the administration of the agency's affairs and for the attainment of the agency's purposes, except as limited by Subsection (b).
(b) Any indebtedness, liability, or obligation of the financial regulatory agency incurred under this section may not:
(1) create a debt or other liability of this state or another entity other than the financial regulatory agency; or
(2) create any personal liability on the part of the members of the policy-making body or the body's or agency's employees.
(b) Any indebtedness, liability, or obligation of the financial regulatory agency incurred under this section may not:
(1) create a debt or other liability of this state or another entity other than the financial regulatory agency; or
(2) create any personal liability on the part of the members of the policy-making body or the body's or agency's employees.
Status: in_force · Read it on the official government site
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