Texas Finance Code 94.252 – Inapplicability of Limitations
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Terms Used In Texas Finance Code 94.252
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005
The limitations under Section 94.251 do not apply to an equity security issued by:
(1) a United States government-sponsored corporation, including the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and the Student Loan Marketing Association; or
(2) a service corporation, an operating subsidiary, or a finance subsidiary of the savings bank.