Tex. Fin. Code § 124.201 · Subchapter E. LOANS TO DIRECTORS, EMPLOYEES, AND CREDIT COMMITTEE MEMBERS
AUTHORIZATION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
Only if done in accordance with limitations imposed by Section 124.202, a credit union may make a loan or extend a line of credit to:
(1) a director, senior management employee, or member of the credit committee; or
(2) the immediate family of the director, senior management employee, or member of the credit committee.
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. 38, 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.124.htm
- Text hash
- sha256 c7140d83fde810318003612131a996d889c143fe5030973e3aae81501933a8b4
- 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
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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.