Texas Finance Code

§ 15.203 — QUALIFICATIONS OF INDUSTRY COMMISSION MEMBERS

FI § 15.203Title 2. FINANCIAL REGULATORY AGENCIES · Ch. 15. CREDIT UNION COMMISSION AND DEPARTMENT · Art. C. COMPOSITION OF COMMISSION

(a)Four commission members must be individuals who:

(1)have five years or more of active experience as a director, officer, or committee member of a credit union that:

(A)is organized and doing business in this state under Subtitle D, Title 3, or the Federal Credit Union Act (12 U.S.C. Section 1751 et seq.); and

(B)has its principal office in this state; and

(2)are engaged in exercising the powers and duties of a director, officer, or committee member of such a credit union.

(b)Experience as a commissioner, deputy commissioner, or examiner is equivalent to the experience required by Subsection (a).

…

Legislative history

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.05(c), eff. Sept. 1, 1999.