Texas Finance Code - Section 34.107. Engaging In Commerce Prohibited
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Texas Lawyer > Finance Code > Texas Finance Code - Section 34.107. Engaging In Commerce Prohibited
§ 34.107. ENGAGING IN COMMERCE PROHIBITED. (a) A state
bank may not buy, sell, or otherwise deal in goods in trade or
commerce or own or operate a business not part of the business of
banking except:
(1) as necessary to avoid or minimize a loss on a loan
or investment previously made in good faith; or
(2) as otherwise provided by this subtitle or rules
adopted under this subtitle.
(b) Engaging in an approved activity, directly or through a
subsidiary, that is a financial activity or incidental or
complementary to a financial activity, whether as principal or
agent, is not considered to be engaging in commerce.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. Amended
by Acts 2001, 77th Leg., ch. 528, § 11, eff. Sept. 1, 2001.
Section: 34.003 34.101 34.102 34.103 34.104 34.105 34.106 34.107 34.201 34.202 34.203 34.204 34.301 34.302 34.303
Last modified: August 10, 2007
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