Texas Finance Code

§ 15.4105 — ANNUAL REPORT TO MEMBERS

FI § 15.4105Title 2. FINANCIAL REGULATORY AGENCIES · Ch. 15. CREDIT UNION COMMISSION AND DEPARTMENT · Art. E. POWERS AND DUTIES OF COMMISSION AND COMMISSIONER

Statute text

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(a)The commission shall adopt, and the commissioner shall enforce, reasonable rules requiring a credit union regulated under this chapter and Subtitle D, Title 3, to provide an annual report to the credit union's members regarding the credit union's financial condition and management. The report must:

(1)include a current balance sheet;

(2)include an income and expense statement;

(3)contain the name and date of expiration of the term of office of each member serving on the board of directors;

(4)contain a brief description of any changes, since the preceding report was provided under this section, to the credit union's:

(A)management;

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Legislative history

Added by Acts 2009, 81st Leg., R.S., Ch. 695 (H.B. 2735), Sec. 14, eff. September 1, 2009.