124.003 – LIMITATIONS ON LOANS. A credit union may not
Texas Finance Code § 124.003
Summary
This law restricts credit unions from lending to members or their business interests if the total loans exceed 10% of the credit union's total assets. It ensures responsible lending practices and protects the financial stability of the credit union. Credit unions must also adhere to any lower limits set by regulatory rules.
Limits loans to 10% of credit union's total assets.
Applies to loans to members and their business interests.
Commission rules may establish lower loan limits.
Frequently Asked Questions
Why Attorneys Choose FlawFinder
Side-by-side with Westlaw and LexisNexis
Feature
FlawFinder
Westlaw
LexisNexis
Monthly price
$19 - $99
$133 - $646
$153 - $399
Contract
None
1-3 year min
1-6 year min
Hidden fees
$0, always
Up to $469/search
$25/mo + per-doc
Police SOPs
✓ 310+ departments
✗
✗
Zero-hallucination AI
✓ CitationGuard
✗
✗
Cancel
One click
Termination fees
No option to cancel
Explain Like I'm 5
In simple terms: Learn about Texas's LIMITATIONS ON LOANS. A credit union may not law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
FlawFinder provides legal information, not legal advice. Consult a licensed attorney for specific legal guidance.