{"data":{"id":"us-tx/tex.-finance-code-122.061","jurisdiction":"us-tx","citation":"Tex. Finance Code § 122.061","heading":"CONFLICTS OF INTEREST.","body":"(a) While serving as a director, honorary director, advisory director, committee member, officer, or employee of a credit union, a person may not:\n(1) participate, directly or indirectly, in the deliberation on or determination of a question affecting the person's pecuniary interest or the pecuniary interest of a member of the person's immediate family or of a partnership, association, or corporation, other than the credit union, in which the person is directly or indirectly interested; or\n(2) become employed by, engage in, or own an interest in a business or professional activity that the person could reasonably expect to:\n(A) require or induce the person to disclose confidential information acquired because of the person's office or employment in the credit union; or\n(B) impair the person's independence or judgment in the performance of the person's duties or responsibilities to the credit union.\n(b) An interest only as a member of the credit union that is shared in common with all other members is not a pecuniary interest within the meaning of Subsection (a)(1).\n(c) In this section, \"member of a person's immediate family\" means a person's spouse or another person living in the person's household.\nActs 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.\nAmended by:\nActs 2013, 83rd Leg., R.S., Ch. 19 (S.B. 244), Sec. 11, eff. September 1, 2013.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE D. CREDIT UNIONS","CHAPTER 122. ORGANIZATIONAL AND FINANCIAL REQUIREMENTS","SUBCHAPTER B. ADMINISTRATION"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.122.htm#122.061","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"60c6cfe0e0ccc1c6736b329370130a771dd4aec7627bc0125d9aeafe7b4dc64b","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-122.060","next":"us-tx/tex.-finance-code-122.062"},"notice":"GroundRules: Original legal text. Not legal advice."}