Sec. 54.608. RESTRICTIONS ON BOARD APPOINTMENT, MEMBERSHIP, AND EMPLOYMENT. (a) A person is not eligible for appointment as a member of the board if the person or the person's spouse:
(1) is employed by or participates in the management of a business entity receiving funds from the board;
(2) owns or controls, directly or indirectly, more than a 10-percent interest in a business entity receiving funds from the board; or
(3) uses or receives a substantial amount of tangible goods, services, or funds from the board, other than compensation or reimbursement authorized by law for board membership, attendance, or expenses.
(b) A person may not be a member of the board and may not be a board 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.) if:
(1) the person is an officer, employee, or paid consultant of a Texas trade association in the field of higher education, banking, securities, or investments; or
(2) the person's spouse is an officer, manager, or paid consultant of a Texas trade association in the field of higher education, banking, securities, or investments.
(d) A person may not serve as a member of the board or act as the general counsel to the board if the person is required to register as a lobbyist under Chapter 305, Government Code, because of the person's activities for compensation on behalf of a profession related to the operation of the board.
(e) Repealed by Acts 2007, 80th Leg., R.S., Ch. 1054, Sec. 12, eff. June 15, 2007.
(f) 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 1995, 74th Leg., ch. 1032, Sec. 1, eff. Sept. 1, 1995.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 1054 (H.B. 2173), Sec. 2, eff. June 15, 2007.
Acts 2007, 80th Leg., R.S., Ch. 1054 (H.B. 2173), Sec. 12, eff. June 15, 2007.
Structure Texas Statutes
Subtitle A - Higher Education in General
Subchapter F. Prepaid Higher Education Tuition Program
Section 54.6001. Public Purpose
Section 54.602. Establishment of Board; Function
Section 54.603. Sunset Provision
Section 54.604. Termination or Modification of Program
Section 54.605. Effect of Termination of Program on Contract
Section 54.606. Members of Board; Appointment; Terms of Office
Section 54.607. Duty in Recommending, Making, or Confirming Appointments
Section 54.608. Restrictions on Board Appointment, Membership, and Employment
Section 54.6085. Prepaid Higher Education Tuition Board Ethics Policy
Section 54.609. Removal of Board Member
Section 54.610. Training of Board Members
Section 54.611. Board Officers
Section 54.612. Compensation and Expenses of Appointed Board Members
Section 54.614. Applicability of Open Meetings Law and Administrative Procedure Law
Section 54.615. Executive Director; Staff
Section 54.616. Program and Facility Accessibility
Section 54.617. Public Interest Information and Complaints
Section 54.6175. Use of Technology
Section 54.618. Powers of Board
Section 54.6181. Advisory Committees
Section 54.619. Prepaid Higher Education Tuition Program
Section 54.6195. Application for Enrollment
Section 54.620. Prepaid Tuition Contract
Section 54.622. Types of Plans
Section 54.623. Junior College Plan
Section 54.624. Senior College Plan
Section 54.6245. Graduate and Professional Degree Plans
Section 54.625. Junior-Senior College Plan
Section 54.6251. Private College Plan
Section 54.6252. Contract for Additional Credit Hours
Section 54.626. Contract Payment
Section 54.6261. Deferred Use of Prepaid Credit Hours
Section 54.6262. Application of Unused Credit Hours to Graduate Tuition
Section 54.627. Change of Beneficiary
Section 54.628. Conversion to Another Plan
Section 54.629. Verification Under Oath
Section 54.630. Promise or Guarantee of Admission
Section 54.631. Contract Termination
Section 54.633. Prepaid Higher Education Tuition Scholarships for Students
Section 54.634. Establishment of Trust Fund; College Savings Plan Account
Section 54.636. Investment of Fund Assets
Section 54.637. Use of Fund Assets
Section 54.6385. Exemption From Securities Laws
Section 54.639. Exemption From Creditors' Claims
Section 54.640. Actuarial Soundness of Fund
Section 54.6401. Compliance With Limits on Contributions and Withdrawals
Section 54.641. Statement Regarding Status of Prepaid Tuition Contract