Sec. 126.252. COMPENSATION OF CREDIT UNION EMPLOYEES AND OFFICERS. (a) This chapter does not prevent compensation of a salaried employee or officer of a credit union during the credit union's liquidation.
(b) The compensation is considered an incidental expense of the liquidation.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Chapter 126 - Credit Union Supervision and Regulation
Subchapter F. Administration of Liquidation
Section 126.251. Permissible Activities in Liquidation
Section 126.252. Compensation of Credit Union Employees and Officers
Section 126.253. Liquidating Agent Subject to Commission Control
Section 126.254. Possession, Consolidation, and Disposition of Assets
Section 126.255. Compound Debts
Section 126.256. Court Action by Liquidating Agent
Section 126.257. Repudiation of Burdensome Transactions
Section 126.258. Execution of Documents; Other Necessary Acts