Texas § 273.301 REQUIRED PURCHASE OF SECURITIES.

Texas Statutes

§ 273.301 — REQUIRED PURCHASE OF SECURITIES.

Texas § 273.301

Code FIFinance Code

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Bluebook

Tex. Finance Code Code Ann. § 273.301 (2026).

Text

Sec. 273.301. REQUIRED PURCHASE OF SECURITIES.

(a)The corporation, acting on the direction of the board under the plan of operation, may require a member association to purchase by a certain date preferred stock, a certificate of participation, or another type of security issued by the corporation that accrues interest or pays a dividend at a specified rate or a variable rate determined by a specific method of computation.

(b)The commissioner may defer in whole or in part a purchase required by Subsection (a) if the commissioner believes the purchase would endanger the ability of the member association to maintain its solvency.

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Sec. 273.301. REQUIRED PURCHASE OF SECURITIES. (a) The corporation, acting on the direction of the board under the plan of operation, may require a member association to purchase by a certain date preferred stock, a certificate of participation, or another type of security issued by the corporation that accrues interest or pays a dividend at a specified rate or a variable rate determined by a specific method of computation.
(b) The commissioner may defer in whole or in part a purchase required by Subsection (a) if the commissioner believes the purchase would endanger the ability of the member association to maintain its solvency.