Sec. 122.103. EQUITY CAPITAL. A credit union's equity capital consists of:
(1) retained earnings;
(2) appropriated retained earnings, including net worth and other reserves;
(3) undivided earnings; and
(4) other forms of capital in accordance with generally accepted accounting principles and approved by the commissioner.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2003, 78th Leg., ch. 533, Sec. 23, eff. Sept. 1, 2003.
Section: Previous 122.060 122.061 122.062 122.063 122.064 122.101 122.102 122.103 122.104 122.105 122.106 122.107 122.151 122.152 122.153 NextLast modified: September 28, 2016