A savings and loan 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 and loan association. Because an operating subsidiary is limited to activities that could otherwise be conducted directly by the savings and loan association, operating subsidiary investment is not included as part of the percentage of assets or dollar amount restrictions applicable to subsidiary corporations as set forth in §73.5(a) of this title (relating to investment in Debt Limitation). Notwithstanding this exclusion, all other provisions of this chapter applicable to a subsidiary corporation apply equally to an operating subsidiary.


Source Note: The provisions of this §73.6 adopted to be effective March 18, 1994, 19 TexReg 1541; amended to be effective November 17, 1995, 20 TexReg 9158.