Sec. 2306.5545. CONFLICT OF INTEREST POLICIES. (a) The board of directors of the corporation shall develop and implement policies relating to employee conflicts of interest that are substantially similar to comparable policies that govern state employees.
(b) A person may not be a member of the corporation's board of directors and may not be a corporation employee employed in a "bona fide executive, administrative, or professional capacity," as that phrase is used for purposes of establishing an exemption to the overtime provisions of the federal Fair Labor Standards Act of 1938 (29 U.S.C. Section 201 et seq.), and its subsequent amendments, if:
(1) the person is an officer, employee, or paid consultant of a Texas trade association in the field of banking, mortgage lending, real estate, housing development, or housing construction; or
(2) the person's spouse is an officer, manager, or paid consultant of a Texas trade association in the field of banking, mortgage lending, real estate, housing development, or housing construction.
(c) A person may not be a member of the corporation's board of directors or act as the general counsel to the board of directors or the corporation if the person is required to register as a lobbyist under Chapter 305 because of the person's activities for compensation on behalf of a profession related to the operation of the corporation.
(d) In this section, "Texas trade association" means a cooperative and voluntarily joined statewide association of business or professional competitors in this state designed to assist its members and its industry or profession in dealing with mutual business or professional problems and in promoting their common interest.
Added by Acts 1997, 75th Leg., ch. 980, Sec. 47, eff. Sept. 1, 1997. Amended by Acts 2003, 78th Leg., ch. 332, Sec. 12, eff. Sept. 1, 2003.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 291 (H.B. 1818), Sec. 4, eff. September 1, 2011.
Structure Texas Statutes
Subtitle G - Economic Development Programs Involving Both State and Local Governments
Chapter 2306 - Texas Department of Housing and Community Affairs
Subchapter Y. Texas State Affordable Housing Corporation
Section 2306.5521. Sunset Provision
Section 2306.554. Board of Directors and Officers
Section 2306.5541. Terms of Members
Section 2306.5542. Removal of Members
Section 2306.5545. Conflict of Interest Policies
Section 2306.5546. Standards of Conduct
Section 2306.5547. Division of Responsibility
Section 2306.5548. Equal Employment Opportunity Policy
Section 2306.5549. Meetings of the Corporation's Board
Section 2306.5551. Board Delegation of Authority to Issue Bonds or Other Obligations
Section 2306.5552. Technical and Financial Assistance Provided to Nonprofit Organizations
Section 2306.5553. Historically Underutilized Businesses
Section 2306.5555. Public Access
Section 2306.556. Exempt From Taxation and Registration
Section 2306.557. Distribution of Earnings
Section 2306.558. Alteration and Termination
Section 2306.559. Reporting Requirements
Section 2306.5621. Homes for Texas Heroes Home Loan Program
Section 2306.563. Public Benefit Requirement
Section 2306.564. Review of Qualified 501(c)(3) Bond Issuance Policies
Section 2306.565. Issuance of Qualified Residential Rental Project Bonds; Allocation of Bond Funds
Section 2306.566. Coordination Regarding State Low Income Housing Plan
Section 2306.567. Compliance Information
Section 2306.5671. Compliance With Terms of Certain Contracts or Agreements