Tex. Lab. Code § 407A.153 · Subchapter D. BOARD OF TRUSTEES
PROHIBITED ACTIVITIES.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
The board of trustees may not:
(1) extend credit to individual members for payment of a premium, except under payment plans approved by the commissioner; or
(2) without first advising the commissioner of the nature and purpose of the loan and obtaining prior approval from the commissioner, borrow any money from the group or in the name of the group except in the ordinary course of business.
Notes and commentary — not statutory text
History
Added by Acts 2003, 78th Leg., ch. 275, Sec. 1, 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/LA/htm/LA.407A.htm
- Text hash
- sha256 bdd358800052faec209f71be62f0f1b2df889b4c558f18e348445cd7ae09c35a
- 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.