Texas § 123.111 RIGHT TO ACT TO MITIGATE OR AVOID LOSS.

Texas Statutes

§ 123.111 — RIGHT TO ACT TO MITIGATE OR AVOID LOSS.

Texas § 123.111

Code FIFinance Code

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Bluebook

Tex. Finance Code Code Ann. § 123.111 (2026).

Text

Sec. 123.111. RIGHT TO ACT TO MITIGATE OR AVOID LOSS. This subtitle does not prohibit a credit union from investing its money, operating a business, managing or dealing in property, or taking any other action at any time that is reasonably necessary to avoid or mitigate a loss on a loan or on an investment made or obligation created in good faith and in the usual course of the credit union's business, as authorized by this subtitle or a rule adopted by the commission.
SUBCHAPTER C. FINANCIAL POWERS

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Sec. 123.111. RIGHT TO ACT TO MITIGATE OR AVOID LOSS. This subtitle does not prohibit a credit union from investing its money, operating a business, managing or dealing in property, or taking any other action at any time that is reasonably necessary to avoid or mitigate a loss on a loan or on an investment made or obligation created in good faith and in the usual course of the credit union's business, as authorized by this subtitle or a rule adopted by the commission.
SUBCHAPTER C. FINANCIAL POWERS