(a) Four commission members must be individuals who:
(1) have five years or more of active experience as a director, officer, or committee member of a credit union that:
(A) is organized and doing business in this state under Subtitle D, Title 3, or the Federal Credit Union Act (12 U.S.C. Section 1751 et seq.); and
(B) has its principal office in this state; and
(2) are engaged in exercising the powers and duties of a director, officer, or committee member of such a credit union.
(b) Experience as a commissioner, deputy commissioner, or examiner is equivalent to the experience required by Subsection (a).
(c) Not more than one individual from a federal credit union may serve on the commission at any time.
(d) An individual who ceases to be engaged in exercising the powers and duties prescribed by this section for a period exceeding 90 days becomes ineligible to serve as a commission member, and the individual's position on the commission becomes vacant.