Texas Finance Code

§ 33.104 — ADVISORY DIRECTOR

FI § 33.104Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part A. BANKS · Ch. 33. OWNERSHIP AND MANAGEMENT OF STATE BANK · Art. B. BOARD AND OFFICERS

Statute text

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(a)An advisory director is not considered a director if the advisory director:

(1)is not elected by the shareholders of the bank;

(2)does not vote on matters before the board or a committee of the board;

(3)is not counted for purposes of determining a quorum of the board or committee; and

(4)provides solely general policy advice to the board.

(b)A state bank may not disclose to an advisory director confidential information pertaining to the bank or the bank's customers unless:

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Legislative history

Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 28, eff. September 1, 2007. Acts 2013, 83rd Leg., R.S., Ch. 940 (H.B. 1664), Sec. 5, eff. June 14, 2013.