Texas Statutes
Subtitle D - Credit Unions
Chapter 122 - Organizational and Financial Requirements

Section 122.006. Decision on Application to Incorporate; Issuance of Certificate - Sec. 122.006. DECISION ON APPLICATION TO INCORPORATE; ISSUANCE OF CERTIFICATE....

Section 122.007. Appeal to Commission - Sec. 122.007. APPEAL TO COMMISSION. (a) The commission by rule...

Section 122.008. Effect of Issuance of Certificate of Incorporation - Sec. 122.008. EFFECT OF ISSUANCE OF CERTIFICATE OF INCORPORATION. (a)...

Section 122.009. Requirements for Commencing Business - Sec. 122.009. REQUIREMENTS FOR COMMENCING BUSINESS. (a) A credit union...

Section 122.010. Deadline for Commencing Business - Sec. 122.010. DEADLINE FOR COMMENCING BUSINESS. (a) A credit union...

Section 122.011. Amendment of Articles of Incorporation or Bylaws - Sec. 122.011. AMENDMENT OF ARTICLES OF INCORPORATION OR BYLAWS. (a)...

Section 122.012. Place of Business - Sec. 122.012. PLACE OF BUSINESS. (a) A credit union shall...

Section 122.013. Foreign Credit Unions - Sec. 122.013. FOREIGN CREDIT UNIONS. (a) A foreign credit union...

Section 122.0131. Temporary Foreign Credit Union Office - Sec. 122.0131. TEMPORARY FOREIGN CREDIT UNION OFFICE. If a state...

Section 122.014. Underserved-Area Credit Union - Sec. 122.014. UNDERSERVED-AREA CREDIT UNION. (a) In this section, "secondary...

Subchapter B. Administration

Section 122.051. Membership - Sec. 122.051. MEMBERSHIP. (a) A person may be a member...

Section 122.052. Meetings of Members; Voting - Sec. 122.052. MEETINGS OF MEMBERS; VOTING. (a) Members of a...

Section 122.053. Board of Directors; Terms and Duties - Sec. 122.053. BOARD OF DIRECTORS; TERMS AND DUTIES. (a) A...

Section 122.054. Qualification of Directors - Sec. 122.054. QUALIFICATION OF DIRECTORS. (a) The commission by rule...

Section 122.055. Vacancies; Removal - Sec. 122.055. VACANCIES; REMOVAL. (a) The office of a director...

Section 122.056. Honorary or Advisory Directors - Sec. 122.056. HONORARY OR ADVISORY DIRECTORS. (a) The board may...

Section 122.057. Officers; Executive Committee - Sec. 122.057. OFFICERS; EXECUTIVE COMMITTEE. (a) At the annual organizational...

Section 122.058. Chief Executive Officer - Sec. 122.058. CHIEF EXECUTIVE OFFICER. (a) The board may employ,...

Section 122.059. Delegation of Management and Loan Approval Authority - Sec. 122.059. DELEGATION OF MANAGEMENT AND LOAN APPROVAL AUTHORITY. (a)...

Section 122.060. Certificate of Election - Sec. 122.060. CERTIFICATE OF ELECTION. (a) A credit union shall...

Section 122.061. Conflicts of Interest - Sec. 122.061. CONFLICTS OF INTEREST. (a) While serving as a...

Section 122.062. Compensation - Sec. 122.062. COMPENSATION. A person may not receive compensation for...

Section 122.063. Bond - Sec. 122.063. BOND. The board shall purchase from a surety...

Section 122.064. Indemnification - Sec. 122.064. INDEMNIFICATION. A credit union may elect to indemnify...

Subchapter C. Operations and Finances

Section 122.101. Call Reports - Sec. 122.101. CALL REPORTS. (a) A credit union shall prepare...

Section 122.102. Financial Reporting; Audits - Sec. 122.102. FINANCIAL REPORTING; AUDITS. (a) A credit union shall...

Section 122.103. Equity Capital - Sec. 122.103. EQUITY CAPITAL. A credit union's equity capital consists...

Section 122.104. Net Worth Reserve Allocations - Sec. 122.104. NET WORTH RESERVE ALLOCATIONS. (a) The commission by...

Section 122.105. Membership Share Reduction - Sec. 122.105. MEMBERSHIP SHARE REDUCTION. A credit union may order...

Section 122.106. Exemption From Certain Taxes - Sec. 122.106. EXEMPTION FROM CERTAIN TAXES. (a) Except as provided...

Section 122.107. Notice of Availability of Certain Documents - Sec. 122.107. NOTICE OF AVAILABILITY OF CERTAIN DOCUMENTS. (a) A...

Subchapter D. Merger or Consolidation

Section 122.151. Authority to Merge or Consolidate - Sec. 122.151. AUTHORITY TO MERGE OR CONSOLIDATE. (a) A credit...

Section 122.152. Application to Merge or Consolidate - Sec. 122.152. APPLICATION TO MERGE OR CONSOLIDATE. (a) After agreement...

Section 122.153. Decision by Commissioner; Appeal - Sec. 122.153. DECISION BY COMMISSIONER; APPEAL. (a) Subject to Subsection...

Section 122.1531. Considerations in Determination - Sec. 122.1531. CONSIDERATIONS IN DETERMINATION. In determining whether to approve...

Section 122.154. Property, Obligations, and Liabilities of Merged or Consolidated Credit Union - Sec. 122.154. PROPERTY, OBLIGATIONS, AND LIABILITIES OF MERGED OR CONSOLIDATED...

Section 122.155. Construction of Subchapter - Sec. 122.155. CONSTRUCTION OF SUBCHAPTER. This subchapter shall be construed,...

Section 122.156. Rules to Address Certain Procedures - Sec. 122.156. RULES TO ADDRESS CERTAIN PROCEDURES. The rules adopted...

Subchapter E. Conversion

Section 122.201. Conversion of State Credit Union to Federal Credit Union - Sec. 122.201. CONVERSION OF STATE CREDIT UNION TO FEDERAL CREDIT...

Section 122.202. Conversion of State Credit Union to Out-of-State Credit Union - Sec. 122.202. CONVERSION OF STATE CREDIT UNION TO OUT-OF-STATE CREDIT...

Section 122.203. Conversion of Federal or Out-of-State Credit Union to State Credit Union - Sec. 122.203. CONVERSION OF FEDERAL OR OUT-OF-STATE CREDIT UNION TO...

Subchapter F. Misconduct and Enforcement

Section 122.251. Defamation - Sec. 122.251. DEFAMATION. (a) A person commits an offense if...

Section 122.252. Consideration for Loan, Investment, or Purchase - Sec. 122.252. CONSIDERATION FOR LOAN, INVESTMENT, OR PURCHASE. (a) A...

Section 122.253. Loan to Nonmember - Sec. 122.253. LOAN TO NONMEMBER. (a) A person commits an...

Section 122.254. False Statements or Documents; Destruction of Records - Sec. 122.254. FALSE STATEMENTS OR DOCUMENTS; DESTRUCTION OF RECORDS. (a)...

Section 122.255. Determination of Misconduct - Sec. 122.255. DETERMINATION OF MISCONDUCT. The commissioner may determine that...

Section 122.256. Determination Letter; Board Meeting - Sec. 122.256. DETERMINATION LETTER; BOARD MEETING. (a) If the commissioner...

Section 122.257. Cease and Desist Order for Credit Unions - Sec. 122.257. CEASE AND DESIST ORDER FOR CREDIT UNIONS. (a)...

Section 122.2575. Cease and Desist Order for Other Persons - Sec. 122.2575. CEASE AND DESIST ORDER FOR OTHER PERSONS. (a)...

Section 122.258. Removal Order - Sec. 122.258. REMOVAL ORDER. (a) The commissioner by order may...

Section 122.259. Hearing on Appeal of Proposed Order - Sec. 122.259. HEARING ON APPEAL OF PROPOSED ORDER. (a) If...

Section 122.260. Administrative Penalty; Injunction - Sec. 122.260. ADMINISTRATIVE PENALTY; INJUNCTION. (a) If a credit union...

Section 122.261. Confidentiality - Sec. 122.261. CONFIDENTIALITY. (a) A determination letter, a cease and...

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Texas Statutes Subtitle D - Credit Unions Chapter 122 - Organizational and Financial Requirements

Texas Statutes
Subtitle D - Credit Unions
Chapter 122 - Organizational and Financial Requirements