Texas Finance Code - Section 34.304. Securing Deposits
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§ 34.304. SECURING DEPOSITS. (a) A state bank may not
create a lien on its assets or secure the repayment of a deposit
except as authorized or required by this section, rules adopted
under this subtitle, or other law.
(b) A state bank may pledge its assets to secure a deposit of
this state, an agency or political subdivision of this state, the
United States, or an instrumentality of the United States.
(c) This section does not prohibit the pledge of assets to
secure the repayment of money borrowed or the purchase of excess
deposit insurance from a private insurance company.
(d) An act, deed, conveyance, pledge, or contract in
violation of this section is void.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.
Section: 34.201 34.202 34.203 34.204 34.301 34.302 34.303 34.304 34.305 34.306 34.307 35.001 35.002 35.003 35.004
Last modified: August 10, 2007
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