Texas § 62.156 PREFERRED STOCK.

Texas Statutes

§ 62.156 — PREFERRED STOCK.

Texas § 62.156

Code FIFinance Code

This text of Texas § 62.156 (PREFERRED STOCK.) 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. § 62.156 (2026).

Text

Sec. 62.156. PREFERRED STOCK.

(a)An association may not issue preferred stock before the preferred stock is fully paid for in cash.

(b)An association may not make a loan against the shares of its outstanding preferred stock.

(c)An association may retire or redeem preferred stock in the manner provided by:

(1)the articles of incorporation; or

(2)a resolution of the board establishing the rights and preferences relating to the stock.

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Sec. 62.156. PREFERRED STOCK. (a) An association may not issue preferred stock before the preferred stock is fully paid for in cash.
(b) An association may not make a loan against the shares of its outstanding preferred stock.
(c) An association may retire or redeem preferred stock in the manner provided by:
(1) the articles of incorporation; or
(2) a resolution of the board establishing the rights and preferences relating to the stock.