Tex. Fin. Code Section 93.009
Right to Act to Avoid Loss

(a)

This subtitle does not deny a savings bank the right to invest its money, operate a business, manage or deal in property, or take other action during any period that is reasonably necessary to avoid loss on a loan or on an investment made or obligation created in good faith in the usual course of the bank’s business, as authorized by this subtitle or a rule adopted under this subtitle.

(b)

This subtitle does not prohibit a savings bank from:

(1)

developing or building on land it has acquired under this section; or

(2)

completing the construction of a building under a construction loan contract in which the borrower has not complied with the contract.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

Source: Section 93.009 — Right to Act to Avoid Loss, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­93.­htm#93.­009 (accessed May 18, 2024).

Green check means up to date. Up to date

Accessed:
May 18, 2024

§ 93.009’s source at texas​.gov