Texas § FI.62.159 - USE OF SURPLUS ACCOUNTS AND EXPENSE FUND CONTRIBUTIONS
Full text of Texas The Texas Constitution § FI.62.159 — USE OF SURPLUS ACCOUNTS AND EXPENSE FUND CONTRIBUTIONS, with citation guidance and answers to common questions.
§ FI.62.159. USE OF SURPLUS ACCOUNTS AND EXPENSE FUND CONTRIBUTIONS
USE OF SURPLUS ACCOUNTS AND EXPENSE FUND CONTRIBUTIONS. (a) At an association's closing date, the association may use all or part of a surplus account, whether earned or paid-in, or expense fund contributions on its books to: (1) meet expenses of operating the association for the period just closed; (2) make required transfers to loss reserves; or (3) pay or credit dividends declared on savings accounts. (b) Paid-in surplus may be used instead of earnings to pay organizational and operating expenses and dividends on savings accounts and to meet any loss reserve requirements. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § FI.62.159
What does The Texas Constitution § FI.62.159 cover?
Section FI.62.159 ("USE OF SURPLUS ACCOUNTS AND EXPENSE FUND CONTRIBUTIONS") 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.62.159?
A common citation format is "The Texas Constitution § FI.62.159" (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.62.159 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.