Tex. Educ. Code § 51.9645 · Subchapter Z. MISCELLANEOUS PROVISIONS
PROHIBITION AGAINST CERTAIN ACTIVITIES BY FINANCIAL AID EMPLOYEES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In this section:
(1) "Institution of higher education" has the meaning assigned by Section 61.003.
(2) "Student loan" means a loan for which the loan agreement requires that all or part of the loan proceeds be used to assist a person in attending an institution of higher education or other postsecondary institution.
(3) "Student loan lender" means a person whose primary business is:
(A) making, brokering, arranging, or accepting applications for student loans; or
(B) a combination of activities described by Paragraph (A).
(b) A person employed by an institution of higher education in the financial aid office of the institution may not:
(1) own stock or hold another ownership interest in a student loan lender, other than through ownership of shares in a publicly traded mutual fund or similar investment vehicle in which the person does not exercise any discretion regarding the investment of the assets of the fund or other investment vehicle; or
(2) solicit or accept any gift from a student loan lender.
(c) A person who violates this section is subject to dismissal or other appropriate disciplinary action.
Notes and commentary — not statutory text
History
Added by Acts 2009, 81st Leg., R.S., Ch. 1344 (S.B. 194), Sec. 1, eff. June 19, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/ED/htm/ED.51.htm
- Text hash
- sha256 78290ae1cc6686b49e3dce21ad916528326bfdf4429a50c27b83eaa1bb33f879
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.