124.203 – AUTHORIZATION TO ACT AS COMAKER, GUARANTOR, OR
Texas Finance Code § 124.203
Summary
This law allows credit unions to permit certain individuals, such as directors and senior management, to act as comakers, guarantors, or endorsers for loans to members. However, this is subject to specific limitations outlined in a related section.
Applies to directors, senior management, and credit committee members.
Permits acting as comaker, guarantor, or endorser for loans.
Subject to limitations set by Section 124.204.
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In simple terms: Learn about Texas's AUTHORIZATION TO ACT AS COMAKER, GUARANTOR, OR 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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