Texas § 122.064 INDEMNIFICATION.

Texas Statutes

§ 122.064 — INDEMNIFICATION.

Texas § 122.064

Code FIFinance Code

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Bluebook

Tex. Finance Code Code Ann. § 122.064 (2026).

Text

Sec. 122.064. INDEMNIFICATION. A credit union may elect to indemnify a director, officer, employee, or agent of the credit union and to purchase insurance as if the credit union were an "enterprise" as defined by Section 8.001 , Business Organizations Code, under and subject to the credit union's bylaws and written policy. A credit union may not provide any indemnification or insurance that would not be permissible under Chapter 8 , Business Organizations Code, but may elect to impose the credit union's own limitations on indemnification.
SUBCHAPTER C. OPERATIONS AND FINANCES

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Sec. 122.064. INDEMNIFICATION. A credit union may elect to indemnify a director, officer, employee, or agent of the credit union and to purchase insurance as if the credit union were an "enterprise" as defined by Section 8.001 , Business Organizations Code, under and subject to the credit union's bylaws and written policy. A credit union may not provide any indemnification or insurance that would not be permissible under Chapter 8 , Business Organizations Code, but may elect to impose the credit union's own limitations on indemnification.
SUBCHAPTER C. OPERATIONS AND FINANCES

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. 12, eff. September 1, 2013.