Finance Code § 92.209
A savings bank cannot issue preferred stock unless it is fully paid in cash, and it cannot make loans against its outstanding preferred stock. It may retire or redeem preferred stock under its articles of incorporation or a board resolution. Inclusion of preferred stock as regulatory capital depends on finance commissi
- Jurisdiction
- United States — Texas
- Instrument
- Code
- Version
- Undated source snapshot
- Language
- en
- Official source
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Statute overview
About this statute
A savings bank cannot issue preferred stock unless it is fully paid in cash, and it cannot make loans against its outstanding preferred stock. It may retire or redeem preferred stock under its articles of incorporation or a board resolution. Inclusion of preferred stock as regulatory capital depends on finance commission rules.
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Finance Code § 92.209
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