Sec. 122.060. CERTIFICATE OF ELECTION.
(a) A credit union shall submit to the commissioner, in a form approved by the department, a certificate of election that provides the name and address of each officer, director, and committee member elected or appointed. The certificate must be filed within the time prescribed by the commissioner.
(b) The commission by rule may authorize the commissioner to obtain other confidential reports relating to a newly elected or appointed officer, director, or committee member.
(c) The commissioner may accept a form prescribed by an insuring organization that contains substantially similar information as the certificate of election in lieu of the certificate. The acceptance of such a form does not limit the commissioner's power to require additional information concerning a newly elected or appointed officer, director, or committee member.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2003, 78th Leg., ch. 533, Sec. 21, eff. Sept. 1, 2003.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 19 (S.B. 244), Sec. 10, eff. September 1, 2013.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Chapter 122 - Organizational and Financial Requirements
Section 122.052. Meetings of Members; Voting
Section 122.053. Board of Directors; Terms and Duties
Section 122.054. Qualification of Directors
Section 122.055. Vacancies; Removal
Section 122.056. Honorary or Advisory Directors
Section 122.057. Officers; Executive Committee
Section 122.058. Chief Executive Officer
Section 122.059. Delegation of Management and Loan Approval Authority
Section 122.060. Certificate of Election