80th Texas Legislature, Regular Session, House Bill 2007, Chapter 110 Page: 4 of 16
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H.B. No. 2007
1 in bank facilities, furniture, fixtures, and equipment. Except as
2 otherwise provided by rules adopted under this subtitle, in
3 computing this limitation the bank:
4 (1) shall Include:
5 (A) its direct investment in bank facilities;
6 (B) an investment in equity or investment
7 securities of a company holding title to a facility used by the bank
8 for a purpose specified by Section 34.001;
9 (C) a loan made by the bank to or on the security
10 of equity or investment securities issued by a company holding
11 title to a facility used by the bank; and
12 (D) any indebtedness incurred on bank facilities
13 by a company:
14 (i) that holds title to the facility;
15 (11) that is an affiliate of the bank; and
16 (iii) in which the bank is invested in the
17 manner described by Paragraph (B) or (C); and
18 (2) may exclude an amount included under Subdivisions
19 (1)(B)-(D) to the extent a lease of a facility from the company
20 holding title to the facility is capitalized on the books of the
21 bank.
22 SECTION 4. Subchapter A, Chapter 34, Finance Code, is
23 amended by adding Section 34.004 to read as follows:
24 Sec. 34.004. PASSIVE INVESTMENT IN MINERAL INTERESTS. (a)
25 Notwithstanding Section 34.003(a), a state bank may hold nonworking
26 mineral or royalty interests if:
27 (1) the state bank acquires the Interest pursuant to
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Texas. Legislature. House of Representatives. 80th Texas Legislature, Regular Session, House Bill 2007, Chapter 110, legislative document, 2007-04/2007-05; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth154913/m1/4/?rotate=270: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.