Tex. Finance Code § 183.203
This is the official text of Tex. Finance Code § 183.203, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 183.203. CONTRACTING FOR DEBT OR OBLIGATION.
Official statutory text
Except as provided by this section or the certificate of formation of the limited trust association, a debt, liability, or other obligation may be contracted for or incurred on behalf of a limited trust association only by:
(1) a majority of the managers, if management of the limited trust association has been vested in a board of managers;
(2) a majority of the managing participants; or
(3) an officer or other agent vested with actual or apparent authority to contract for or incur the debt, liability, or other obligation.
(1) a majority of the managers, if management of the limited trust association has been vested in a board of managers;
(2) a majority of the managing participants; or
(3) an officer or other agent vested with actual or apparent authority to contract for or incur the debt, liability, or other obligation.
Status: in_force · Read it on the official government site
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