Tex. Finance Code § 62.159
USE OF SURPLUS ACCOUNTS AND EXPENSE FUND CONTRIBUTIONS
Texas · Texas Finance Code · Status: effective
Cite this
- Citation
- Tex. Finance Code § 62.159, USE OF SURPLUS ACCOUNTS AND EXPENSE FUND CONTRIBUTIONS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/645334
- Permanent ID
ys:prov:645334@1- SHA-256
fdb624e961a4a2998acb13869a82c582656aa1a1c13a355f1969ecd711613d35
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(a) At an association's closing date, the association may use all or part of a surplus account, whether earned or paid-in, or expense fund contributions on its books to:
(1) meet expenses of operating the association for the period just closed;
(2) make required transfers to loss reserves; or
(3) pay or credit dividends declared on savings accounts.
(b) Paid-in surplus may be used instead of earnings to pay organizational and operating expenses and dividends on savings accounts and to meet any loss reserve requirements.