Tex. Fin. Code Section 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.
Added by Acts 2003, 78th Leg., ch. 533, Sec. 35, eff. Sept. 1, 2003.

Source: Section 123.111 — Right to Act to Mitigate or Avoid Loss, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­123.­htm#123.­111 (accessed Jun. 5, 2024).

Accessed:
Jun. 5, 2024

§ 123.111’s source at texas​.gov