{"data":{"id":"us-tx/tex.-finance-code-126.353","jurisdiction":"us-tx","citation":"Tex. Finance Code § 126.353","heading":"CONFLICT OF INTEREST.","body":"(a) The liquidating agent may not acquire an asset of the credit union in liquidation or purchase a loan of the credit union without the commissioner's prior written approval.\n(b) A liquidating agent may not obtain from the liquidation compensation or profit for:\n(1) direct or indirect personal benefit;\n(2) the benefit of a family member of or a person associated with the liquidating agent; or\n(3) the benefit of a business enterprise with which the liquidating agent is associated, other than the credit union.\nActs 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE D. CREDIT UNIONS","CHAPTER 126. CREDIT UNION SUPERVISION AND REGULATION","SUBCHAPTER H. LIQUIDATING AGENT"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.126.htm#126.353","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"52b2617f2e7fe927c2f3bf7082ad7903948c43078e444ba11c0593f2b8ec0258","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-126.352","next":"us-tx/tex.-finance-code-126.354"},"notice":"GroundRules: Original legal text. Not legal advice."}