{"data":{"id":"us-tx/tex.-finance-code-273.203","jurisdiction":"us-tx","citation":"Tex. Finance Code § 273.203","heading":"POWERS OF CORPORATION.","body":"The corporation may, consistent with the purposes of this chapter, exercise the powers of a nonprofit corporation created under the laws of this state, including the power to:\n(1) enter into a contract;\n(2) sue and be sued;\n(3) purchase, hold, lease, receive, use, encumber, transfer, lend, advance, or otherwise dispose of money or other property of any kind, or of any interest in money or other property;\n(4) take the capital stock and assets of a borrowing member association as collateral securing any loan it makes to that association;\n(5) hold or dispose of in any manner any collateral described by Subdivision (4) acquired as a result of default in the payment of a loan;\n(6) declare and pay a dividend or interest on a security issued under this chapter;\n(7) borrow money; and\n(8) perform any other necessary act to enable the corporation to effectively promote and carry out its purposes.\nActs 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE Z. MISCELLANEOUS PROVISIONS RELATING TO FINANCIAL INSTITUTIONS AND BUSINESSES","CHAPTER 273. SAVINGS AND LOAN SUPPLEMENTAL FUND ACT","SUBCHAPTER C. OPERATION OF CORPORATION"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.273.htm#273.203","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"7988655a415642771217c6fb77443a8841c6ec9aebaacae2b58c4004d9896eff","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-273.202","next":"us-tx/tex.-finance-code-273.204"},"notice":"GroundRules: Original legal text. Not legal advice."}