124.202 – CONDITIONS OF LOANS. A loan or extension of a
Texas Finance Code § 124.202
Summary
This law outlines the conditions under which loans or lines of credit can be extended by credit unions. It ensures that loans comply with established rules and are not offered on more favorable terms than those available to other borrowers, requiring board approval for certain amounts.
Loans must comply with applicable rules and regulations.
Terms cannot be more favorable than those for other borrowers.
Board approval is required for larger loan amounts.
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In simple terms: Learn about Texas's CONDITIONS OF LOANS. A loan or extension of a law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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