Texas Finance Code - Section 94.151. Advances Paid By Savings Bank
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Texas Lawyer > Finance Code > Texas Finance Code - Section 94.151. Advances Paid By Savings Bank
§ 94.151. ADVANCES PAID BY SAVINGS BANK. (a) A savings
bank may pay taxes, assessments, insurance premiums, and similar
charges for the protection of the savings bank's interest in
property that secures a real property loan of the savings bank.
(b) A payment under Subsection (a) is an advance, and the
savings bank may:
(1) carry the payment on the savings bank's books as an
asset of the savings bank for which the savings bank 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: 94.002 94.051 94.052 94.053 94.054 94.101 94.102 94.151 94.152 94.153 94.154 94.201 94.202 94.203 94.204
Last modified: August 10, 2007
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