- (a) An investment in securities made prior to September 1, 1995, that was within a state bank's investment limit when made but is currently in excess of the limitations of Finance Code, §34.101 or §34.104, is not a violation of Finance Code, §34.101 or §34.104, but is considered a nonconforming investment.
- (b) A state bank may not make an investment on or after September 1, 1995, that is not in compliance with law or that would cause an existing investment described in subsection (a) of this section to become further out of compliance with law.
Source Note:The provisions of this §12.61 adopted to be effective July 12, 1996, 21 TexReg 6073; amended to be effective March 12, 1998, 23 TexReg 2287.