Tex. Fin. Code § 122.103

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 122.103 - Equity Capital

A credit union's equity capital consists of:

(1) retained earnings;

(2) appropriated retained earnings, including net worth and other reserves;

(3) undivided earnings; and

(4) other forms of capital in accordance with generally accepted accounting principles and approved by the commissioner.

Tex. Fin. Code § 122.103

Amended by Acts 2003, 78th Leg., ch. 533, Sec. 23, eff. 9/1/2003.

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. 9/1/1997.