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100 chapters · 2,835 sections in this title.
Tex. Finance Code § 124.001 Authorization
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Sec. 124.001. AUTHORIZATION. A credit union may make a loan to a member: (1) in accordance with rules adopted by the commission; (2) for a purpose the credit union approves; and (3) on security and terms the credit union requires. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept…
Tex. Finance Code § 124.002 Limitations On Interest Rates
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Sec. 124.002. LIMITATIONS ON INTEREST RATES. The interest rate on a loan to a member may not exceed: (1) 1-1/2 percent per month on the unpaid balance; (2) 28 percent a year to the extent that federal credit unions are permitted to charge that rate; or (3) a higher rate authorize…
Tex. Finance Code § 124.003 Limitations On Loans
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Sec. 124.003. LIMITATIONS ON LOANS. A credit union may not make a loan to a member or a business interest of the member if the loan would cause the aggregate amount of loans to the member and the member's business interests to exceed: (1) an amount equal to 10 percent of the cred…
Tex. Finance Code § 124.004 Written Instrument Required
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Sec. 124.004. WRITTEN INSTRUMENT REQUIRED. A credit union loan must be evidenced by a written instrument. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.