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Tex. Finance Code § 62.156

PREFERRED STOCK

Texas · Texas Finance Code · Status: effective

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Tex. Finance Code § 62.156, PREFERRED STOCK, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/645331
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(a) An association may not issue preferred stock before the preferred stock is fully paid for in cash. (b) An association may not make a loan against the shares of its outstanding preferred stock. (c) An association may retire or redeem preferred stock in the manner provided by: (1) the articles of incorporation; or (2) a resolution of the board establishing the rights and preferences relating to the stock.