Texas Finance Code - Section 33.203. Contracting For Debt Or Obligation
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Texas Lawyer > Finance Code > Texas Finance Code - Section 33.203. Contracting For Debt Or Obligation
§ 33.203. CONTRACTING FOR DEBT OR OBLIGATION. Except as
provided by the articles of association of the limited banking
association, a debt, liability, or other obligation may be
contracted for or incurred on behalf of a limited banking
association only by:
(1) a majority of the managers if management of the
limited banking association has been vested in a board of managers;
(2) a majority of the managing participants; or
(3) an officer or other agent vested with actual or
apparent authority to contract for or incur the debt, liability, or
other obligation.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.
Section: 33.105 33.106 33.107 33.108 33.109 33.201 33.202 33.203 33.204 33.205 33.206 33.207 33.208 33.209 33.210
Last modified: August 10, 2007
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