Texas § 273.305 AUTHORIZED EXPENDITURES.

Texas Statutes

§ 273.305 — AUTHORIZED EXPENDITURES.

Texas § 273.305

Code FIFinance Code

This text of Texas § 273.305 (AUTHORIZED EXPENDITURES.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Finance Code Code Ann. § 273.305 (2026).

Text

Sec. 273.305. AUTHORIZED EXPENDITURES.

(a)The corporation may spend money from the administrative account for the usual business operations of the corporation.

(b)On the commissioner's request, the corporation shall use money in the administrative account or primary account to:

(1)aid a member association under conservatorship; and

(2)rehabilitate a member association placed under conservatorship as authorized by law and minimize the chance the association will be liquidated.

(c)The total amount used to aid a member association under Subsection (b)(1) may not exceed the lesser of:

(1)10 percent of the balance of the primary account; or

(2)20 percent of the association's assets.

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 273.305. AUTHORIZED EXPENDITURES. (a) The corporation may spend money from the administrative account for the usual business operations of the corporation.
(b) On the commissioner's request, the corporation shall use money in the administrative account or primary account to:
(1) aid a member association under conservatorship; and
(2) rehabilitate a member association placed under conservatorship as authorized by law and minimize the chance the association will be liquidated.
(c) The total amount used to aid a member association under Subsection (b)(1) may not exceed the lesser of:
(1) 10 percent of the balance of the primary account; or
(2) 20 percent of the association's assets.