Texas Finance Code - Section 33.209. Allocation Of Profits And Losses
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Texas Lawyer > Finance Code > Texas Finance Code - Section 33.209. Allocation Of Profits And Losses
§ 33.209. ALLOCATION OF PROFITS AND LOSSES. The profits
and losses of a limited banking association may be allocated among
the participants and among classes of participants as provided by
the participation agreement. Without the prior written approval of
the banking commissioner to use a different allocation method, the
profits and losses must be allocated according to the relative
interests of the participants as reflected in the articles of
association and related documents filed with and approved by the
banking commissioner.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.
Section: 33.202 33.203 33.204 33.205 33.206 33.207 33.208 33.209 33.210 33.211 34.001 34.002 34.003 34.101 34.102
Last modified: August 10, 2007
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