Texas § 122.056 HONORARY OR ADVISORY DIRECTORS.

Texas Statutes

§ 122.056 — HONORARY OR ADVISORY DIRECTORS.

Texas § 122.056

Code FIFinance Code

This text of Texas § 122.056 (HONORARY OR ADVISORY DIRECTORS.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Finance Code Code Ann. § 122.056 (2026).

Text

Sec. 122.056. HONORARY OR ADVISORY DIRECTORS.

(a)The board may appoint not more than six individuals to serve at the board's pleasure as honorary or advisory directors to advise and consult with the board and otherwise aid the board in carrying out the board's duties and responsibilities.

(b)An honorary or advisory director:

(1)need not be eligible for membership in the credit union;

(2)is not a member of the board; and

(3)is not entitled to vote on a matter before the board.

(c)An honorary or advisory director may participate in any board deliberation. Except as otherwise provided by Section 125.402 (d), an honorary or advisory director shall hold in confidence all information the director receives about a credit union during the director's service.

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Sec. 122.056. HONORARY OR ADVISORY DIRECTORS. (a) The board may appoint not more than six individuals to serve at the board's pleasure as honorary or advisory directors to advise and consult with the board and otherwise aid the board in carrying out the board's duties and responsibilities.
(b) An honorary or advisory director:
(1) need not be eligible for membership in the credit union;
(2) is not a member of the board; and
(3) is not entitled to vote on a matter before the board.
(c) An honorary or advisory director may participate in any board deliberation. Except as otherwise provided by Section 125.402 (d), an honorary or advisory director shall hold in confidence all information the director receives about a credit union during the director's service.

Legislative History

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by: Acts 2013, 83rd Leg., R.S., Ch. 19 (S.B. 244 ), Sec. 9, eff. September 1, 2013.