Tex. Fin. Code Section 124.352
Limitations on Investments

(a)

An investment under Section 124.351 (Permitted Investments)(a)(1) may be made only if:

(1)

the membership or ownership of the agency, association, or company is restricted to credit unions and their members or organizations of credit unions; and

(2)

the agency, association, or company is designed primarily to serve or otherwise assist credit union operations.

(b)

An investment under Section 124.351 (Permitted Investments)(a)(1) or (2) in any one agency, association, or company may not exceed the lesser of the amount equal to:

(1)

five percent of the credit union’s total assets; or

(2)

its reserves and undivided earnings.

(c)

Notwithstanding Subsection (a), the commission by rule may authorize an investment under Section 124.351 (Permitted Investments)(a)(1) in an agency, association, or company:

(1)

whose membership or ownership is not restricted to credit unions and their members or organizations of credit unions; or

(2)

that is not designed primarily to serve or otherwise assist credit union operations.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

Source: Section 124.352 — Limitations on Investments, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­124.­htm#124.­352 (accessed May 18, 2024).

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Accessed:
May 18, 2024

§ 124.352’s source at texas​.gov