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Tex. Fin. Code § 122.252

CONSIDERATION FOR LOAN, INVESTMENT, OR PURCHASE

Known as the Texas Credit Union Act

The act spans §§ 121–149 (219 sections).

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff

(a) A person commits an offense if the person:

(1) is a director, honorary director, advisory director, committee member, officer, or employee of a credit union; and

(2) knowingly demands or receives, directly or indirectly, consideration for the credit union's making a specific loan or investment or purchasing an asset.

(b) An offense under this section is a Class A misdemeanor.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.