Texas Finance Code 124.203 – Authorization to Act as Comaker, Guarantor, or Endorser
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Texas Finance Code 124.203
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
A credit union may permit a director, senior management employee, or member of the credit committee to act as comaker, guarantor, or endorser of a loan to a member only in accordance with limitations imposed by Section 124.204.