Sec. 54.008. RATIO OF CAPITAL TO LOANS. (a) A corporation formed under this chapter shall automatically increase its capital stock at the rate of five percent of the amount of loans made by the corporation to shareholders of its common stock.
(b) The corporation's articles of incorporation and bylaws must state the requirement of Subsection (a) of this section.
Acts 1981, 67th Leg., p. 1120, ch. 388, Sec. 1, eff. Sept. 1, 1981.
Structure Texas Statutes
Title 4 - Agricultural Organizations
Chapter 54 - Mutual Loan Corporations
Section 54.004. Capital Stock Requirement for Incorporation
Section 54.006. Investment by Other Corporations
Section 54.007. Investment of Capital
Section 54.008. Ratio of Capital to Loans
Section 54.009. Loans and Discounts
Section 54.010. Liability of Shareholder