Texas Finance Code 92.608 – Allocation of Profits and Losses
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Terms Used In Texas Finance Code 92.608
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
The profits and losses of a limited savings bank may be allocated among the members and among classes of members as provided by the company agreement. Without the prior written approval of the commissioner to use a different allocation method, the profits and losses must be allocated according to the relative interests of the members in the limited savings bank.