Texas Finance Code

§ 12.107 — CONFLICT OF INTEREST

FI § 12.107Title 2. FINANCIAL REGULATORY AGENCIES · Ch. 12. TEXAS DEPARTMENT OF BANKING · Art. B. OPERATION OF DEPARTMENT

Statute text

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(a)In this section, "Texas trade association" means a cooperative and voluntarily joined association of business or professional competitors in this state that:

(1)is primarily designed to assist its members and its industry or profession in dealing with mutual business or professional problems and in promoting their common interest; and

(2)includes business and professional competitors located in this state among its members.

(b)A person may not be a department employee if:

(1)the person is an officer, employee, or paid consultant of a Texas trade association in an industry regulated by the department; or

(2)the person's spouse is an officer, manager, or paid consultant of a Texas trade association in an industry regulated by the department.

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Legislative history

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 699, Sec. 1, eff. Sept. 1, 2001; Acts 2001, 77th Leg., ch. 412, Sec. 1.04, eff. Sept. 1, 2001; Acts 2003, 78th Leg., ch. 1276, Sec. 8.001, eff. Sept. 1, 2003.