Texas § 122.104 NET WORTH RESERVE ALLOCATIONS.

Texas Statutes

§ 122.104 — NET WORTH RESERVE ALLOCATIONS.

Texas § 122.104

Code FIFinance Code

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Bluebook

Tex. Finance Code Code Ann. § 122.104 (2026).

Text

Sec. 122.104. NET WORTH RESERVE ALLOCATIONS.

(a)The commission by rule shall require a credit union to contribute to and maintain net worth reserves necessary to protect the interests of its members. The rule may:

(1)prescribe the purposes for which the net worth reserves may be used; and

(2)authorize the commissioner to approve other uses.

(b)The credit union's board may establish reserves in addition to the required net worth reserves.

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Sec. 122.104. NET WORTH RESERVE ALLOCATIONS. (a) The commission by rule shall require a credit union to contribute to and maintain net worth reserves necessary to protect the interests of its members. The rule may:
(1) prescribe the purposes for which the net worth reserves may be used; and
(2) authorize the commissioner to approve other uses.
(b) The credit union's board may establish reserves in addition to the required net worth reserves.