Texas Statutes
§ 124.204 — PRIOR APPROVAL REQUIRED.
Texas § 124.204
JurisdictionTexas
Code FIFinance Code
This text of Texas § 124.204 (PRIOR APPROVAL REQUIRED.) 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. § 124.204 (2026).
Text
Sec. 124.204. PRIOR APPROVAL REQUIRED. The board must give its approval before the credit union permits a director, senior management employee, or member of the credit committee to act as comaker, guarantor, or endorser of a loan to a member if the amount of the loan or aggregate of outstanding loans to the comaker, guarantor, or endorser is greater than the sum of:
(1)$10,000 or a higher amount established by commission rule; and
(2)the amount of the shares and deposits pledged for the loan.
SUBCHAPTER F. ILLEGAL LOANS
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Legislative History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2003, 78th Leg., ch. 533, Sec. 40, eff. Sept. 1, 2003.
Nearby Sections
15
§ 124.001
AUTHORIZATION.§ 124.002
LIMITATIONS ON INTEREST RATES.§ 124.003
LIMITATIONS ON LOANS.§ 124.004
WRITTEN INSTRUMENT REQUIRED.§ 124.005
APPLICABILITY OF OTHER LAW.§ 124.051
OPEN-END CREDIT PLAN.§ 124.052
LINE OF CREDIT.§ 124.101
BORROWER PAYMENT OF LOAN EXPENSES.§ 124.102
COLLECTION OF LOAN EXPENSES.§ 124.103
CHARACTER OF EXPENSE OR FEE.§ 124.151
PREPAYMENT PRIVILEGE.§ 124.153
PENALTY FOR LATE PAYMENT.§ 124.201
AUTHORIZATION.Cite This Page — Counsel Stack
Bluebook (online)
Texas § 124.204, Counsel Stack Legal Research, https://law.counselstack.com/statute/tx/FI/124.204.