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Tex. Finance Code § 122.104

NET WORTH RESERVE ALLOCATIONS

Texas · Texas Finance Code · Status: effective

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Tex. Finance Code § 122.104, NET WORTH RESERVE ALLOCATIONS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/645904
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(a) The commission by rule shall require a credit union to contribute to and maintain net worth reserves necessary to protect the interests of its members. The rule may: (1) prescribe the purposes for which the net worth reserves may be used; and (2) authorize the commissioner to approve other uses. (b) The credit union's board may establish reserves in addition to the required net worth reserves.