Texas Agriculture Code
§ 55.006 — RATIO OF CAPITAL TO LOANS
AG § 55.006Title 4. AGRICULTURAL ORGANIZATIONS · Ch. 55. COOPERATIVE CREDIT ASSOCIATIONS
Statute text
View on source(a)The total amount of the outstanding loans or discounts of an association formed under this chapter may not exceed an amount equal to 10 times the amount of the association's paid-up unimpaired capital stock.
(b)The articles of incorporation of an association formed under this chapter must state the requirement of Subsection (a) of this section.
Legislative history
Acts 1981, 67th Leg., p. 1122, ch. 388, Sec. 1, eff. Sept. 1, 1981.