Tex. Finance Code § 93.009
This is the official text of Tex. Finance Code § 93.009, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 93.009. RIGHT TO ACT TO AVOID LOSS.
Official statutory text
(a) This subtitle does not deny a savings bank the right to invest its money, operate a business, manage or deal in property, or take other action during any period that is reasonably necessary to avoid loss on a loan or on an investment made or obligation created in good faith in the usual course of the bank's business, as authorized by this subtitle or a rule adopted under this subtitle.
(b) This subtitle does not prohibit a savings bank from:
(1) developing or building on land it has acquired under this section; or
(2) completing the construction of a building under a construction loan contract in which the borrower has not complied with the contract.
(b) This subtitle does not prohibit a savings bank from:
(1) developing or building on land it has acquired under this section; or
(2) completing the construction of a building under a construction loan contract in which the borrower has not complied with the contract.
Status: in_force · Read it on the official government site
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