{"data":{"id":"us-tx/tex.-finance-code-33.209","jurisdiction":"us-tx","citation":"Tex. Finance Code § 33.209","heading":"ALLOCATION OF PROFITS AND LOSSES.","body":"The profits and losses of a limited banking association may be allocated among the participants and among classes of participants as provided by the participation agreement. Without the prior written approval of the banking commissioner to use a different allocation method, the profits and losses must be allocated according to the relative interests of the participants as reflected in the certificate of formation and related documents filed with and approved by the banking commissioner.\nActs 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.\nAmended by:\nActs 2013, 83rd Leg., R.S., Ch. 575 (S.B. 804), Sec. 12, eff. June 14, 2013.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE A. BANKS","CHAPTER 33. OWNERSHIP AND MANAGEMENT OF STATE BANK","SUBCHAPTER C. LIMITED BANKING ASSOCIATION"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.33.htm#33.209","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"8e89e2269e93d0b19901a9684be3bc9c50be7b42dda56cb9e4ee97db7b2d8607","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-33.208","next":"us-tx/tex.-finance-code-33.210"},"notice":"GroundRules: Original legal text. Not legal advice."}