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2025 Texas Statutes
Finance Code
Title 3 - Financial Institutions and Businesses
Subtitle C - Savings Banks
Chapter 92 - Organizational and Financial Requirements
Subchapter E. Operations and Finances
Section 92.212. Use of Surplus Accounts and Expense Fund Contributions
Universal Citation:
TX Fin Code § 92.212 (2025)
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Sec. 92.212. USE OF SURPLUS ACCOUNTS AND EXPENSE FUND CONTRIBUTIONS. (a) At a savings bank's closing date, the savings bank may use all or part of a surplus account, whether earned or paid in, or expense fund contributions on its books to:
(1) meet expenses of operating the savings bank for the period just closed;
(2) make required transfers to loss reserves; or
(3) pay or credit earnings on deposit accounts.
(b) Paid-in surplus may be used instead of earnings to pay organizational and operating expenses and earnings on deposit accounts and to meet any loss reserve requirements.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
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