122.058 – CHIEF EXECUTIVE OFFICER. (a) The board may
Texas Finance Code § 122.058
Summary
This law allows the board of a credit union to appoint a president who serves as the chief executive officer. The president can be a board member but cannot hold the positions of chairman, vice chairman, or secretary, and has the authority to hire or fire other employees.
Board can appoint a president as CEO.
President cannot be chairman, vice chairman, or secretary.
President has hiring and firing authority over staff.
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In simple terms: Learn about Texas's CHIEF EXECUTIVE OFFICER. (a) The board may 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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