Texas Finance Code

§ 121.002 — DEFINITIONS

FI § 121.002Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part D. CREDIT UNIONS · Ch. 121. GENERAL PROVISIONS

Statute text

In this subtitle:

(1)"Board" means the board of directors of a credit union.

(2)"Credit union," unless the context relates to a federal credit union, means a voluntary, cooperative, nonprofit financial institution authorized to do business in this state under this subtitle for purposes of:

(A)encouraging thrift among its members;

(B)creating a source of credit at fair and reasonable interest rates;

(C)developing and providing to its members alternative methods of financing their purchases at reasonable costs;

…

Legislative history

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 1999, 76th Leg., ch. 157, Sec. 5, eff. Sept. 1, 1999; Acts 2003, 78th Leg., ch. 533, Sec. 6, eff. Sept. 1, 2003.