122.005 – PROCEDURE FOR CERTAIN APPROVALS. (a) This
Texas Finance Code § 122.005
Summary
This law outlines the procedure for obtaining approval from the commissioner for specific actions related to credit unions, including incorporation, amendments to articles, and mergers. It affects credit unions seeking to expand their operations or restructure.
Applies to incorporation, amendments, and mergers of credit unions.
Commissioner must approve requests before proceeding.
Includes expansion of a credit union's field of membership.
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In simple terms: Learn about Texas's PROCEDURE FOR CERTAIN APPROVALS. (a) This law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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