Texas Finance Code - Section 92.212. Use Of Surplus Accounts And Expense Fund Contributions
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§ 92.212. USE OF SURPLUS ACCOUNTS AND EXPENSE FUND
CONTRIBUTIONS. (a) At a savings bank's closing date, the savings
bank may use all or part of a surplus account, whether earned or
paid in, or expense fund contributions on its books to:
(1) meet expenses of operating the savings bank for
the period just closed;
(2) make required transfers to loss reserves; or
(3) pay or credit earnings on deposit accounts.
(b) Paid-in surplus may be used instead of earnings to pay
organizational and operating expenses and earnings on deposit
accounts and to meet any loss reserve requirements.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.
Section: 92.205 92.206 92.207 92.208 92.209 92.210 92.211 92.212 92.213 92.251 92.252 92.253 92.254 92.255 92.256
Last modified: August 10, 2007
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