Texas Finance Code 94.302 – Limitation On Investment in Subsidiaries
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(a) A savings bank may not invest in a subsidiary corporation if the investment would cause the savings bank’s aggregate investments in subsidiaries to exceed an amount equal to 10 percent of the savings bank’s total assets.
(b) For the purposes of Subsection (a), a savings bank’s aggregate investment in subsidiaries does not include amounts invested in a subsidiary corporation the activities of which are limited to activities that could be conducted directly by the parent savings bank.
Terms Used In Texas Finance Code 94.302
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.