7 Tex. Admin. Code § 65.2 - [Repealed]
Notes
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(a) Any loan, investment, or letter of credit, or legally binding commitment thereof, made by an association in compliance with the rules then in effect shall not be affected by any subsequent rule or rule amendment during the original term thereof, nor shall any rule or rule amendment enacted subsequent to the date of any loan made in compliance with the rules then in effect apply to any renewal, extension, or rearrangement of such loan, if:
(1) the total obligations of the borrower do not increase other than as provided in the instruments evidencing such loans, so long as the renewed, extended, or rearranged loan amount does not exceed 100% of the appraised value of the security property at the time the previous loan was made and so long as the renewal, extension, or rearrangement is executed on or before December 31, 1992; or
(2) the renewal, extension, or rearrangement:
(A) is with respect to a loan which matures on or before December 31, 1986;
(B) is executed on or before December 31, 1986;
(C) does not cause the loan amount to exceed 100% of the appraised value of the security property at the time the previous loan was made; and
(D) does not provide for a maturity date for such renewed, extended, or rearranged loan beyond December 31, 1987.
(b) Any renewal, extension, or rearrangement of a loan, investment, or letter of credit that does not meet these exceptions shall be in compliance with the provisions of this chapter.
(c) An association may purchase a loan, or a participation therein, even though the loan does not meet the requirements of this chapter, if the loan was made in compliance with regulations applicable at the time the loan was made. If the loan has been renewed, extended, or rearranged after December 27, 1985, such renewal, extension, or rearrangement must have been in compliance with this section.