Texas § 126.353 CONFLICT OF INTEREST.

Texas Statutes

§ 126.353 — CONFLICT OF INTEREST.

Texas § 126.353

Code FIFinance Code

This text of Texas § 126.353 (CONFLICT OF INTEREST.) 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. § 126.353 (2026).

Text

Sec. 126.353. CONFLICT OF INTEREST.

(a)The liquidating agent may not acquire an asset of the credit union in liquidation or purchase a loan of the credit union without the commissioner's prior written approval.

(b)A liquidating agent may not obtain from the liquidation compensation or profit for:

(1)direct or indirect personal benefit;

(2)the benefit of a family member of or a person associated with the liquidating agent; or

(3)the benefit of a business enterprise with which the liquidating agent is associated, other than the credit union.

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Sec. 126.353. CONFLICT OF INTEREST. (a) The liquidating agent may not acquire an asset of the credit union in liquidation or purchase a loan of the credit union without the commissioner's prior written approval.
(b) A liquidating agent may not obtain from the liquidation compensation or profit for:
(1) direct or indirect personal benefit;
(2) the benefit of a family member of or a person associated with the liquidating agent; or
(3) the benefit of a business enterprise with which the liquidating agent is associated, other than the credit union.