Tex. Finance Code § 273.203
This is the official text of Tex. Finance Code § 273.203, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 273.203. POWERS OF CORPORATION.
Official statutory text
The corporation may, consistent with the purposes of this chapter, exercise the powers of a nonprofit corporation created under the laws of this state, including the power to:
(1) enter into a contract;
(2) sue and be sued;
(3) purchase, hold, lease, receive, use, encumber, transfer, lend, advance, or otherwise dispose of money or other property of any kind, or of any interest in money or other property;
(4) take the capital stock and assets of a borrowing member association as collateral securing any loan it makes to that association;
(5) hold or dispose of in any manner any collateral described by Subdivision (4) acquired as a result of default in the payment of a loan;
(6) declare and pay a dividend or interest on a security issued under this chapter;
(7) borrow money; and
(8) perform any other necessary act to enable the corporation to effectively promote and carry out its purposes.
(1) enter into a contract;
(2) sue and be sued;
(3) purchase, hold, lease, receive, use, encumber, transfer, lend, advance, or otherwise dispose of money or other property of any kind, or of any interest in money or other property;
(4) take the capital stock and assets of a borrowing member association as collateral securing any loan it makes to that association;
(5) hold or dispose of in any manner any collateral described by Subdivision (4) acquired as a result of default in the payment of a loan;
(6) declare and pay a dividend or interest on a security issued under this chapter;
(7) borrow money; and
(8) perform any other necessary act to enable the corporation to effectively promote and carry out its purposes.
Status: in_force · Read it on the official government site
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