Tex. Finance Code § 94.151
This is the official text of Tex. Finance Code § 94.151, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 94.151. ADVANCES PAID BY SAVINGS BANK.
Official statutory text
(a) A savings bank may pay taxes, assessments, insurance premiums, and similar charges for the protection of the savings bank's interest in property that secures a real property loan of the savings bank.
(b) A payment under Subsection (a) is an advance, and the savings bank may:
(1) carry the payment on the savings bank's books as an asset of the savings bank for which the savings bank may charge interest; or
(2) add the payment to the unpaid balance of the loan to which it applies as of the first day of the month in which the payment is made.
(b) A payment under Subsection (a) is an advance, and the savings bank may:
(1) carry the payment on the savings bank's books as an asset of the savings bank for which the savings bank may charge interest; or
(2) add the payment to the unpaid balance of the loan to which it applies as of the first day of the month in which the payment is made.
Status: in_force · Read it on the official government site
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