(a) Without the prior written approval of the banking commissioner, a state bank may not directly or indirectly invest an amount in excess of its unimpaired capital and surplus in bank facilities, furniture, fixtures, and equipment. Except as otherwise provided by rules adopted under this subtitle, in computing this limitation the bank:
(1) shall include:
(A) its direct investment in bank facilities;
(B) an investment in equity or investment securities of a company holding title to a facility used by the bank for a purpose specified by § 34.001;
(C) a loan made by the bank to or on the security of equity or investment securities issued by a company holding title to a facility used by the bank; and
(D) any indebtedness incurred on bank facilities by a company:
(i) that holds title to the facility;
(ii) that is an affiliate of the bank; and
(iii) in which the bank is invested in the manner described by Paragraph (B) or (C); and
(2) may exclude an amount included under Subdivisions (1)(B)-(D) to the extent a lease of a facility from the company holding title to the facility is capitalized on the books of the bank.
(b) Real property acquired for the purposes described by § 34.001(3) and not improved and occupied by the bank ceases to be a bank facility on the third anniversary of the date of its acquisition unless the banking commissioner on application grants written approval to further delay in the improvement and occupation of the property by the bank.

(c) A bank shall comply with regulatory accounting principles in accounting for its investment in and depreciation of bank facilities, furniture, fixtures, and equipment.