Definitions

Sec. 23.051. DEFINITIONS. In this subchapter: (1) "Corporation" means a business development corporation organized under this subchapter. (2) "Financial institution" means a banking corporation or trust company, savings and loan association, governmental agency, insurance company, or related corporation, partnership, foundation, or other institution engaged primarily in lending or investing funds. (3) "Loan limit" means the maximum amount permitted to be outstanding at one time on loans made by a member to a corporation. (4) "Member" means a financial institution authorized to do business in this state that undertakes to lend money to a corporation. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.