{"data":{"id":"us-tx/tex.-finance-code-273.301","jurisdiction":"us-tx","citation":"Tex. Finance Code § 273.301","heading":"REQUIRED PURCHASE OF SECURITIES.","body":"(a) The corporation, acting on the direction of the board under the plan of operation, may require a member association to purchase by a certain date preferred stock, a certificate of participation, or another type of security issued by the corporation that accrues interest or pays a dividend at a specified rate or a variable rate determined by a specific method of computation.\n(b) The commissioner may defer in whole or in part a purchase required by Subsection (a) if the commissioner believes the purchase would endanger the ability of the member association to maintain its solvency.\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 D. PRIMARY AND ADMINISTRATIVE ACCOUNTS; ISSUANCE OF SECURITIES"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.273.htm#273.301","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"a62affa048fa413ceffb66efab4810716d4b421412a2f737f94bac1e0e170fc5","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-273.211","next":"us-tx/tex.-finance-code-273.302"},"notice":"GroundRules: Original legal text. Not legal advice."}