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Texas Finance Code - Section 15.204. Qualifications Of Public Commission Members

Legal Research Home > Texas Lawyer > Finance Code > Texas Finance Code - Section 15.204. Qualifications Of Public Commission Members

§ 15.204. QUALIFICATIONS OF PUBLIC COMMISSION 
MEMBERS.  (a) Five commission members must be representatives of 
the public.  A person is not eligible for appointment as a public 
member of the commission if the person or the person's spouse:
		(1)  is employed by or participates in managing or 
directing:               
			(A)  a financial institution;  or                                            
			(B)  an organization, other than a financial 
institution, regulated by or receiving money from a financial 
institution regulatory agency;
		(2)  has, other than as a member or customer, a 
financial interest in:      
			(A)  a financial institution;  or                                            
			(B)  an organization, other than a financial 
institution, regulated by or receiving money from a financial 
institution regulatory agency;  or
		(3)  uses or receives a substantial amount of tangible 
goods, services, or money from the department, other than 
compensation or reimbursement authorized by law for commission 
membership, attendance, or expenses.
	(b)  The governor shall appoint public commission members on 
the basis of recognized business ability.
	(c)  In this section, "financial institution" includes an 
institution such as a credit union, bank, savings bank, or savings 
and loan association.

Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.  Amended 
by Acts 1999, 76th Leg., ch. 62, § 7.05(d), eff. Sept. 1, 1999;  
Acts 1999, 76th Leg., ch. 87, § 1, eff. Sept. 1, 1999.

Last modified: August 10, 2007