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Texas · Through 89th 2nd Called Legislative Session, 2025

Tex. Finance Code § 92.602: LIABILITY OF MEMBERS AND MANAGERS.

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Where this section sits in the code
  1. FINANCE CODE
  2. TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES
  3. SUBTITLE C. SAVINGS BANKS
  4. CHAPTER 92. ORGANIZATIONAL AND FINANCIAL REQUIREMENTS
  5. SUBCHAPTER M. LIMITED SAVINGS BANK

A member, transferee of a member, or manager of a limited savings bank is not liable for a debt, obligation, or liability of the limited savings bank, including a debt, obligation, or liability under a judgment, decree, or order of a court. A member or a manager of a limited savings bank is not a proper party to a proceeding by or against a limited savings bank unless the object of the proceeding is to enforce a member's or manager's right against or liability to a limited savings bank.

Added by Acts 2005, 79th Leg., Ch. 1018 (H.B. 955), Sec. 5.15, eff. September 1, 2005.

Collected 2026-08-27T01:47:13Z. Source file · JSON

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