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Texas Finance Code - Section 92.153. Qualification Of Directors

Legal Research Home > Texas Laws > Finance Code > Texas Finance Code - Section 92.153. Qualification Of Directors

§ 92.153. QUALIFICATION OF DIRECTORS.  (a) A person is 
not qualified to be a director of a savings bank if the person:
		(1)  is less than 18 years of age;                                            
		(2)  has been adjudicated bankrupt or convicted of a 
criminal offense involving dishonesty or breach of trust, unless 
the commissioner gives the person prior written approval to be a 
director;
		(3)  has a final judgment entered against the person 
for an amount of money that has remained unsatisfied or unsecured 
for more than six months after the date of the judgment's entry, 
unless:
			(A)  the commissioner gives the person prior 
written approval to be a director;  or
			(B)  the judgment was satisfied of record more 
than one year before the election date;  or
		(4)  is a director, officer, or employee of another 
savings bank, unless the commissioner gives the person prior 
written approval to be a director.
	(b)  The bylaws of a savings bank may prescribe other 
qualifications for a director.

Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.                   

Last modified: August 11, 2007