Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
Section 93.009 - Right to Act to Avoid Loss(a) This subtitle does not deny a savings bank the right to invest its money, operate a business, manage or deal in property, or take other action during any period that is reasonably necessary to avoid loss on a loan or on an investment made or obligation created in good faith in the usual course of the bank's business, as authorized by this subtitle or a rule adopted under this subtitle.(b) This subtitle does not prohibit a savings bank from:(1) developing or building on land it has acquired under this section; or(2) completing the construction of a building under a construction loan contract in which the borrower has not complied with the contract. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. 9/1/1997.