Sec. 273.206. CANCELLATION OF MEMBERSHIP. The board may cancel the membership of a member association that fails to purchase securities as required by Section 273.301 by the 10th banking day after the purchase date set by the board.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses
Chapter 273 - Savings and Loan Supplemental Fund Act
Subchapter C. Operation of Corporation
Section 273.201. Plan of Operation; Amendment
Section 273.202. Temporary Plan of Operation
Section 273.203. Powers of Corporation
Section 273.204. Conditions Under Which Corporation May Exercise Powers and Duties
Section 273.205. Consideration for Assistance
Section 273.206. Cancellation of Membership
Section 273.207. Redemption of Securities
Section 273.208. Immunity From Liability