Texas Finance Code

§ 122.062 — COMPENSATION

FI § 122.062Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part D. CREDIT UNIONS · Ch. 122. ORGANIZATIONAL AND FINANCIAL REQUIREMENTS · Art. B. ADMINISTRATION

Statute text

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A person may not receive compensation for serving as a director, honorary director, advisory director, or committee member of a credit union, except that the person may be:

(1)provided with reasonable health, life, accident, liability, or similar insurance protection;

(2)reimbursed for necessary expenses incurred in the performance of the person's duties; and

(3)paid the fees and reimbursed for other expenditures authorized by commission rules.

Legislative history

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