{"data":{"id":"us-tx/tex.-finance-code-66.403","jurisdiction":"us-tx","citation":"Tex. Finance Code § 66.403","heading":"ENFORCEABILITY OF LOAN PROMISE OR AGREEMENT MADE BY ASSOCIATION BEFORE CONSERVATORSHIP OR SUPERVISORY CONTROL.","body":"If a promise or agreement to lend money is not otherwise unenforceable under Chapter 26, Business \u0026 Commerce Code, and if the promise or agreement is made by the association before the association is placed under conservatorship or supervisory control, the promise or agreement or a memorandum of the promise or agreement is enforceable against the association only if the promise or agreement or memorandum:\n(1) is in writing and states the material terms of the loan and the loan's repayment;\n(2) is signed by an authorized officer or employee of the association and the person to whom the promise or agreement was made; and\n(3) is approved by the association's board.\nActs 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE B. SAVINGS AND LOAN ASSOCIATIONS","CHAPTER 66. ENFORCEMENT AND REGULATION","SUBCHAPTER I. MISCELLANEOUS PROVISIONS"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.66.htm#66.403","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"f07a7ea6f85b9dcb27c3913293ef1628ed9b960102970c784fe9237273a5d4a0","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-66.402","next":"us-tx/tex.-finance-code-67.001"},"notice":"GroundRules: Original legal text. Not legal advice."}