122.252 – CONSIDERATION FOR LOAN, INVESTMENT, OR PURCHASE.
Texas Finance Code § 122.252
Summary
This law prohibits certain individuals associated with a credit union from demanding or receiving compensation for facilitating loans, investments, or asset purchases. It targets directors, officers, and employees, ensuring they act in the credit union's best interest without personal gain.
Applies to credit union directors and employees.
Prohibits receiving compensation for specific financial transactions.
Violations are classified as a Class A misdemeanor.
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In simple terms: Learn about Texas's CONSIDERATION FOR LOAN, INVESTMENT, OR PURCHASE. 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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