{"data":{"id":"us-tx/tex.-education-code-51.9645","jurisdiction":"us-tx","citation":"Tex. Education Code § 51.9645","heading":"PROHIBITION AGAINST CERTAIN ACTIVITIES BY FINANCIAL AID EMPLOYEES.","body":"(a) In this section:\n(1) \"Institution of higher education\" has the meaning assigned by Section 61.003.\n(2) \"Student loan\" means a loan for which the loan agreement requires that all or part of the loan proceeds be used to assist a person in attending an institution of higher education or other postsecondary institution.\n(3) \"Student loan lender\" means a person whose primary business is:\n(A) making, brokering, arranging, or accepting applications for student loans; or\n(B) a combination of activities described by Paragraph (A).\n(b) A person employed by an institution of higher education in the financial aid office of the institution may not:\n(1) own stock or hold another ownership interest in a student loan lender, other than through ownership of shares in a publicly traded mutual fund or similar investment vehicle in which the person does not exercise any discretion regarding the investment of the assets of the fund or other investment vehicle; or\n(2) solicit or accept any gift from a student loan lender.\n(c) A person who violates this section is subject to dismissal or other appropriate disciplinary action.\nAdded by Acts 2009, 81st Leg., R.S., Ch. 1344 (S.B. 194), Sec. 1, eff. June 19, 2009.","path":["EDUCATION CODE","TITLE 3. HIGHER EDUCATION","SUBTITLE A. HIGHER EDUCATION IN GENERAL","CHAPTER 51. PROVISIONS GENERALLY APPLICABLE TO HIGHER EDUCATION","SUBCHAPTER Z. MISCELLANEOUS PROVISIONS"],"source_url":"https://statutes.capitol.texas.gov/Docs/ED/htm/ED.51.htm#51.9645","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:05Z","sha256":"bf9cb852dfc6a6d60416d077004a9da8e6b8abfe432797962fcb9e69e943c66f","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-education-code-51.964","next":"us-tx/tex.-education-code-51.965"},"notice":"GroundRules: Original legal text. Not legal advice."}