Texas Finance Code

§ 15.311 — QUALIFICATIONS OF EMPLOYEES

FI § 15.311Title 2. FINANCIAL REGULATORY AGENCIES · Ch. 15. CREDIT UNION COMMISSION AND DEPARTMENT · Art. D. COMMISSIONER AND OTHER EMPLOYEES OF COMMISSION

Statute text

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A person may not be a department employee employed in a "bona fide executive, administrative, or professional capacity," as that phrase is used for purposes of establishing an exemption to the overtime provisions of the federal Fair Labor Standards Act of 1938 (29 U.S.C. Section 201 et seq.), if:

(1)the person is an officer, employee, or paid consultant of a Texas trade association in the financial institutions field; or

(2)the person's spouse is an officer, manager, or paid consultant of a Texas trade association in the financial institutions field. Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.05(f), eff. Sept. 1, 1999. Amended by:

Legislative history

Acts 2009, 81st Leg., R.S., Ch. 695 (H.B. 2735), Sec. 10, eff. September 1, 2009.