Tex. Finance Code § 342.503
This is the official text of Tex. Finance Code § 342.503, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 342.503. SECURITY FOR LOAN.
Official statutory text
(a) A lender may not take as security for a loan made under this chapter an assignment of wages.
(b) A lender may not take as security for a loan made under Subchapter E or F a lien on real property other than a lien created by law on the recording of an abstract of judgment.
(c) A lender may take as security for a loan made under Subchapter E or F an assignment of:
(1) a warrant drawn against a state fund; or
(2) a claim against a state fund or a state agency.
(b) A lender may not take as security for a loan made under Subchapter E or F a lien on real property other than a lien created by law on the recording of an abstract of judgment.
(c) A lender may take as security for a loan made under Subchapter E or F an assignment of:
(1) a warrant drawn against a state fund; or
(2) a claim against a state fund or a state agency.
Status: in_force · Read it on the official government site
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