Texas Finance Code

§ 126.252 — COMPENSATION OF CREDIT UNION EMPLOYEES AND OFFICERS

FI § 126.252Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part D. CREDIT UNIONS · Ch. 126. CREDIT UNION SUPERVISION AND REGULATION · Art. F. ADMINISTRATION OF LIQUIDATION

Statute text

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(a)This chapter does not prevent compensation of a salaried employee or officer of a credit union during the credit union's liquidation.

(b)The compensation is considered an incidental expense of the liquidation.

Legislative history

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