Sec. 93.004. POWER TO BORROW. (a) A savings bank may borrow and give security, subject to rules adopted by the finance commission.
(b) A savings bank at any time through action of its board may issue a capital note, debenture, or other capital obligation authorized by rules adopted by the finance commission.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 867, Sec. 51, eff. Sept. 1, 2001.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Section 93.001. General Corporate Powers
Section 93.002. Enlargement of Powers
Section 93.003. Powers of Federal Savings Bank
Section 93.004. Power to Borrow
Section 93.006. Power to Act Under Certain Federal Retirement Plans
Section 93.008. Powers Relative to Other Financial Institutions
Section 93.009. Right to Act to Avoid Loss
Section 93.010. Closing Place of Business