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Texas Finance Code - Section 33.107. Limitation On Action Of Officer Or Employee In Relation To Asset Or Liability

Legal Research Home > Texas Lawyer > Finance Code > Texas Finance Code - Section 33.107. Limitation On Action Of Officer Or Employee In Relation To Asset Or Liability

§ 33.107. LIMITATION ON ACTION OF OFFICER OR EMPLOYEE IN 
RELATION TO ASSET OR LIABILITY.  Unless expressly authorized by a 
resolution of the board recorded in its minutes, an officer or 
employee may not create or dispose of a bank asset or create or 
incur a liability on behalf of the bank.

Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.                   

Last modified: August 10, 2007