Texas Finance Code

§ 122.252 — CONSIDERATION FOR LOAN, INVESTMENT, OR PURCHASE

FI § 122.252Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part D. CREDIT UNIONS · Ch. 122. ORGANIZATIONAL AND FINANCIAL REQUIREMENTS · Art. F. MISCONDUCT AND ENFORCEMENT

Statute text

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(a)A person commits an offense if the person:

(1)is a director, honorary director, advisory director, committee member, officer, or employee of a credit union; and

(2)knowingly demands or receives, directly or indirectly, consideration for the credit union's making a specific loan or investment or purchasing an asset.

(b)An offense under this section is a Class A misdemeanor.

Legislative history

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