SECTION 12.31. Loans Secured by Affiliate-Issued Securities

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A loan subject to Finance Code, §34.102(d), must be subtracted from the capital of a lending bank if the loan proceeds are used directly, or indirectly, for the purpose of recapitalizing the lending bank, unless the loan is fully secured by irrevocable letters of credit or other liquid assets.

Source Note: The provisions of this §12.31 adopted to be effective May 17, 1996, 21 TexReg 3935; amended to be effective July 10, 2003, 28 TexReg 5149

                    
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