(a) This chapter does not prevent compensation of a salaried employee or officer of a credit union during the credit union's liquidation.
(b) The compensation is considered an incidental expense of the liquidation.
Tex. Fin. Code § 126.252
COMPENSATION OF CREDIT UNION EMPLOYEES AND OFFICERS
Known as the Texas Credit Union Act
The act spans §§ 121.001 to 149.002 (219 sections).
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.