Tex. Fin. Code § 122.057 · Subchapter B. ADMINISTRATION
OFFICERS; EXECUTIVE COMMITTEE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) At the annual organizational meeting, the board shall elect from its membership a chairman, vice chairman, treasurer, and secretary. The offices of treasurer and secretary may be held by the same individual.
(b) An officer elected under Subsection (a):
(1) serves a one-year term or until the officer's successor is elected and qualified; and
(2) has the duties the bylaws prescribe.
(c) The board may appoint from its membership an executive committee of at least three persons to exercise, between board meetings, authority specifically delegated by the board under conditions specified by the board. At each board meeting, the executive committee shall report to the board regarding any meeting held or action taken by the committee between board meetings.
(d) The bylaws may establish a minimum age requirement to hold office in the credit union.
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. 19, 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 fa9b935ed787aa408ebb13f3fa94651b5c2e596679b1c7542a516bef59f1c7b2
- 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.