80th Texas Legislature, Regular Session, House Bill 2007, Chapter 110 Page: 6 of 16
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H.B. No. 2007
1 adopted under this subtitle. Except as otherwise provided by this
2 section, the amount of the investment securities of any one obligor
3 or maker held by the bank for its own account may not exceed an
4 amount equal to [the 1c-or of] 15 percent of the bank's unimpaired
5 capital and [Bertified] surplus [r th 'o a :C . 4ity.
6 .~aet- a4 1]. The banking commissioner may authorize investments in
7 excess of this limitation on written application if the banking
8 commissioner determines that:
9 (1) the excess investment is not prohibited by other
10 applicable law; and
11 (2) the safety and soundness of the requesting state
12 bank is not adversely affected.
13 (f) A state bank may not invest more than an amount equal to
14 [the lo-c-r of] 25 percent of the bank's unimpaired capital and
15 [e.*tif ] surplus [or th ank' tal --q ty ap. tal] in
16 investment grade adjustable rate preferred stock and money market
17 (auction rate) preferred stock.
18 SECTION 6. Section 34.103(b), Finance Code, is amended to
19 read as follows:
20 (b) Except for investment in a subsidiary engaging solely in
21 activities that may be engaged in directly by the bank and that are
22 conducted on the same terms and conditions that govern the conduct
23 of the activities by the bank, a state bank without the prior
24 written approval of the banking commissioner may not invest more
25 than an amount equal to 10 percent of [the lmer1 of] Its unimpaired
26 capital and [cf~e] ed] surplus [ t --th ank's total eq u
27 e:..ta] in a single subsidiary. For purposes of this subsection,6
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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/m1/6/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.