80th Texas Legislature, Regular Session, House Bill 2007, Chapter 110 Page: 7 of 16
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H.B. No. 2007
1 the amount of a state bank's investment in a subsidiary is the sum
2 of the amount of the bank's investment in securities issued by the
3 subsidiary and any loans and extensions of credit from the bank to
4 the subsidiary.
5 SECTION 7. Section 34.104(c), Finance Code, is amended to
6 read as follows:
7 (c) The bank may invest not more than an amount equal to 15
8 percent of the bank's unimpaired capital and [certified] surplus in
9 an investment company described by Subsection (a) the portfolio of
10 which contains an investment or obligation that is subject to the
11 limitations of Section 34.101(d) or 34.201(a).
12 SECTION 8. Section 34.105(a), Finance Code, is amended to
13 read as follows:
14 (a) A state bank may purchase for its own account equity
15 securities of any class issued by:
16 (1) a bank service corporation, except that the bank
17 may not invest more than an amount equal to 15 percent of the bank's
18 unimpaired capital and [ccrtefe4] surplus in a single bank service
19 corporation or more than an amount equal to five percent of its
20 assets in all bank service corporations;
21 (2) an agricultural credit corporation, except that
22 the bank may not invest more than an amount equal to 30 percent of
23 the bank's unimpaired capital and [certified] surplus in the
24 agricultural credit corporation unless the bank owns at least 80
25 percent of the equity securities of the agricultural credit
26 corporation;
27 (3) a small business investment company if the
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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/m1/7/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.