Texas § FI.34.003 - OTHER REAL PROPERTY
Full text of Texas The Texas Constitution § FI.34.003 — OTHER REAL PROPERTY, with citation guidance and answers to common questions.
§ FI.34.003. OTHER REAL PROPERTY
OTHER REAL PROPERTY. (a) A state bank may not acquire real property except: (1) as permitted by this subtitle or rules adopted under this subtitle; (2) with the prior written approval of the banking commissioner; or (3) as necessary to avoid or minimize a loss on a loan or investment previously made in good faith. (b) With the prior written approval of the banking commissioner, a state bank may: (1) exchange real property for other real property or personal property; (2) invest additional money in or improve real property acquired under this subsection or Subsection (a); or (3) acquire additional real property to avoid or minimize loss on real property acquired as permitted by Subsection (a). (c) A state bank shall dispose of real property subject to this section not later than the fifth anniversary of the date the real property: (1) was acquired except as otherwise provided by rules adopted under this subtitle; (2) ceases to be used as a bank facility; or (3) ceases to be a bank facility as provided by Section 34.002 (b). (d) The banking commissioner on application may grant one or more extensions of time for disposing of real property if the banking commissioner determines that: (1) the bank has made a good faith effort to dispose of the real property; or (2) disposal of the real property would be detrimental to the bank. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by: Acts 2013, 83rd Leg., R.S., Ch. 940 (H.B. 1664 ), Sec. 7, eff. June 14, 2013.
Frequently Asked Questions About Texas § FI.34.003
What does The Texas Constitution § FI.34.003 cover?
Section FI.34.003 ("OTHER REAL PROPERTY") 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.34.003?
A common citation format is "The Texas Constitution § FI.34.003" (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.34.003 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.