Authorization to Act as Comaker, Guarantor, or Endorser

Loans and Investments · Loans to Directors, Employees, and Credit Committee Members

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.

Official text of the Texas Finance Code as published by the Texas Legislative Council.

Official source

Legislative history

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2003, 78th Leg., ch. 533, Sec. 39, eff. Sept. 1, 2003.

This section refers to

§ 124.204