Texas Finance Code 122.062 – Compensation
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Terms Used In Texas Finance Code 122.062
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
A person may not receive compensation for serving as a director, honorary director, advisory director, or committee member of a credit union, except that the person may be:
(1) provided with reasonable health, life, accident, liability, or similar insurance protection;
(2) reimbursed for necessary expenses incurred in the performance of the person’s duties; and
(3) paid the fees and reimbursed for other expenditures authorized by commission rules.