Tex. Agric. Code § 54.008

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 54.008 - Ratio of Capital to Loans

(a) A corporation formed under this chapter shall automatically increase its capital stock at the rate of five percent of the amount of loans made by the corporation to shareholders of its common stock.

(b) The corporation's articles of incorporation and bylaws must state the requirement of Subsection (a) of this section.

Acts 1981, 67th Leg., p. 1120, ch. 388, Sec. 1, eff. 9/1/1981.