Construction

Checkout our iOS App for a better way to browser and research.

Nothing in this subchapter shall be construed to:

  1. (1) Prevent a state or federal savings and loan association from electing or agreeing to furnish bond at its own cost;

  2. (2) Prevent any other party of interest, desiring protection in a business transaction with a state or federal savings and loan association, from electing to secure and pay for a bond covering the state or federal savings and loan association to the benefit of such a party to the transaction; and

  3. (3) Amend or repeal any law pertaining to:

    1. (A) Corporate surety or indemnity bonds covering directors, officers, or employees of a state or federal savings and loan association;

    2. (B) Foreign corporations, associations, or institutions not authorized to do business in this state;

    3. (C) Actions available against state or federal savings and loan associations for injury or damage; and

    4. (D) Bonding requirements involving fiduciary activities of a guardian, executor, administrator, personal representative, trustee, agent, or other fiduciary under the Probate Code or under any other laws covering fiduciary activities.


Download our app to see the most-to-date content.