Texas Finance Code - Section 64.061. Advances Paid By Association
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Texas Lawyer > Finance Code > Texas Finance Code - Section 64.061. Advances Paid By Association
§ 64.061. ADVANCES PAID BY ASSOCIATION. (a) An
association may pay taxes, assessments, insurance premiums, and
similar charges for the protection of the association's interest in
property that secures a real property loan of the association.
(b) A payment under Subsection (a) is an advance, and the
association may:
(1) carry the payment on the association's books as an
asset of the association for which the association may charge
interest; or
(2) add the payment to the unpaid balance of the loan
to which it applies as of the first day of the month in which the
payment is made.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.
Section: 64.002 64.003 64.021 64.022 64.023 64.041 64.042 64.061 64.062 64.063 64.064 64.081 64.082 64.083 64.084
Last modified: August 10, 2007
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