Tex. Fin. Code § 122.052 · Subchapter B. ADMINISTRATION
MEETINGS OF MEMBERS; VOTING.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Members of a credit union shall hold an annual or special meeting at the time and place and in the manner provided by the bylaws.
(b) In determining a question requiring action by the members, each member may cast only one vote, regardless of the number of shares the member holds.
(c) The board may authorize voting by mail or by electronic means. Mail and electronic balloting shall be conducted in accordance with commission rules.
(d) A member that is not an organization may not vote by proxy. A member that is an organization may be represented by and vote through a designated representative who is authorized, in writing, by the organization's governing body to represent the organization.
(e) The credit union's bylaws may establish a minimum age requirement to vote.
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2003, 78th Leg., ch. 533, Sec. 15, eff. Sept. 1, 2003.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.122.htm
- Text hash
- sha256 d3e61eeaa65bdc092e4b1c725f32382032f6be3455fcb9693d225c46ce1a0f66
- 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
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.