Texas § FI.273.305 - AUTHORIZED EXPENDITURES
Full text of Texas The Texas Constitution § FI.273.305 — AUTHORIZED EXPENDITURES, with citation guidance and answers to common questions.
§ FI.273.305. AUTHORIZED EXPENDITURES
AUTHORIZED EXPENDITURES. (a) The corporation may spend money from the administrative account for the usual business operations of the corporation. (b) On the commissioner's request, the corporation shall use money in the administrative account or primary account to: (1) aid a member association under conservatorship; and (2) rehabilitate a member association placed under conservatorship as authorized by law and minimize the chance the association will be liquidated. (c) The total amount used to aid a member association under Subsection (b)(1) may not exceed the lesser of: (1) 10 percent of the balance of the primary account; or (2) 20 percent of the association's assets. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Frequently Asked Questions About Texas § FI.273.305
What does The Texas Constitution § FI.273.305 cover?
Section FI.273.305 ("AUTHORIZED EXPENDITURES") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § FI.273.305?
A common citation format is "The Texas Constitution § FI.273.305" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § FI.273.305 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.