{"data":{"id":"us-tx/tex.-finance-code-124.204","jurisdiction":"us-tx","citation":"Tex. Finance Code § 124.204","heading":"PRIOR APPROVAL REQUIRED.","body":"The board must give its approval before the credit union permits a director, senior management employee, or member of the credit committee to act as comaker, guarantor, or endorser of a loan to a member if the amount of the loan or aggregate of outstanding loans to the comaker, guarantor, or endorser is greater than the sum of:\n(1) $10,000 or a higher amount established by commission rule; and\n(2) the amount of the shares and deposits pledged for the loan.\nActs 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2003, 78th Leg., ch. 533, Sec. 40, eff. Sept. 1, 2003.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE D. CREDIT UNIONS","CHAPTER 124. LOANS AND INVESTMENTS","SUBCHAPTER E. LOANS TO DIRECTORS, EMPLOYEES, AND CREDIT COMMITTEE MEMBERS"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.124.htm#124.204","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"6abd73b9fd3fd8e27bbd632b197221a2f30090c6905c8175b8534578ef8ba1b8","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-124.203","next":"us-tx/tex.-finance-code-124.251"},"notice":"GroundRules: Original legal text. Not legal advice."}