Texas Administrative Code
Title 7 - BANKING AND SECURITIES
Part 4 - DEPARTMENT OF SAVINGS AND MORTGAGE LENDING
Chapter 60 - SAVINGS ASSOCIATIONS
Subchapter D - LOANS, INVESTMENTS, SAVINGS, AND DEPOSITS
Division 2 - SUBSIDIARIES
Section 60.326 - Operating Subsidiaries

Universal Citation: 7 TX Admin Code ยง 60.326
Current through Reg. 49, No. 38; September 20, 2024

A savings association is authorized to invest in operating subsidiaries, the activities of which are exclusively limited to activities which could be conducted directly by the parent savings association. Because an operating subsidiary is limited to activities that could otherwise be conducted directly by the savings association, operating subsidiary investment is not limited by the percentage of assets or dollar amount restrictions applicable to subsidiary corporations as set forth in § 60.325 of this title (relating to Subsidiary Investment and Debt Limitation). Notwithstanding this exclusion, all other provisions of this chapter applicable to a subsidiary apply equally to an operating subsidiary.

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