Texas Labor Code - Section 407A.153. Prohibited Activities
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§ 407A.153. PROHIBITED ACTIVITIES. The board of trustees
may not:
(1) extend credit to individual members for payment of
a premium, except under payment plans approved by the commissioner;
or
(2) without first advising the commissioner of the
nature and purpose of the loan and obtaining prior approval from the
commissioner, borrow any money from the group or in the name of the
group except in the ordinary course of business.
Added by Acts 2003, 78th Leg., ch. 275, § 1, eff. Sept. 1, 2003.
Section: 407A.054 407A.055 407A.056 407A.057 407A.101 407A.151 407A.152 407A.153 407A.154 407A.201 407A.251 407A.252 407A.301 407A.302 407A.303
Last modified: August 10, 2007
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