Texas Agriculture Code

§ 56.003 — ASSETS REPRESENTED BY ACCEPTANCES OF BANKING CORPORATIONS

AG § 56.003Title 4. AGRICULTURAL ORGANIZATIONS · Ch. 56. AGRICULTURAL FINANCE CORPORATIONS

Statute text

At any time, the total assets of an agricultural finance corporation that are represented by acceptances of banking corporations not secured by or representing ready marketable, staple, nonperishable agricultural products may not exceed an amount equal to 10 percent of the unimpaired capital of the corporation.

Legislative history

Acts 1981, 67th Leg., p. 1124, ch. 388, Sec. 1, eff. Sept. 1, 1981.