Sec. 63.007. RIGHT TO ACT TO AVOID LOSS. This subtitle or another statute of this state does not deny an association the right to invest its money, operate a business, manage or deal in property, or take other action during any period that is reasonably necessary to avoid loss on a prior loan or investment or on an obligation created in good faith.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Subtitle B - Savings and Loan Associations
Section 63.001. General Corporate Powers
Section 63.002. Enlargement of Powers
Section 63.003. Powers of Federal Association
Section 63.004. Power to Borrow
Section 63.006. Power to Act Under Certain Federal Retirement Plans
Section 63.007. Right to Act to Avoid Loss
Section 63.008. Closing Place of Business