Texas Finance Code

§ 15.204 — QUALIFICATIONS OF PUBLIC COMMISSION MEMBERS

FI § 15.204Title 2. FINANCIAL REGULATORY AGENCIES · Ch. 15. CREDIT UNION COMMISSION AND DEPARTMENT · Art. C. COMPOSITION OF COMMISSION

Statute text

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(a)Five commission members must be representatives of the public. A person is not eligible for appointment as a public member of the commission if the person or the person's spouse:

(1)is employed by or participates in managing or directing:

(A)a financial institution; or

(B)an organization, other than a financial institution, regulated by or receiving money from a financial institution regulatory agency;

(2)has, other than as a member or customer, a financial interest in:

(A)a financial institution; or

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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(d), eff. Sept. 1, 1999; Acts 1999, 76th Leg., ch. 87, Sec. 1, eff. Sept. 1, 1999.