Texas Finance Code

§ 92.153 — QUALIFICATION OF DIRECTORS

FI § 92.153Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part C. SAVINGS BANKS · Ch. 92. ORGANIZATIONAL AND FINANCIAL REQUIREMENTS · Art. D. ADMINISTRATION

Statute text

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(a)A person is not qualified to be a director of a savings bank if the person:

(1)is less than 18 years of age;

(2)has been adjudicated bankrupt or convicted of a criminal offense involving dishonesty or breach of trust, unless the commissioner gives the person prior written approval to be a director;

(3)has a final judgment entered against the person for an amount of money that has remained unsatisfied or unsecured for more than six months after the date of the judgment's entry, unless:

(A)the commissioner gives the person prior written approval to be a director; or

(B)the judgment was satisfied of record more than one year before the election date; or

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Legislative history

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.