Texas Finance Code - FIN § 126.003. Enforceability of Agreement Made by Credit Union Before Conservatorship or Liquidation

(1) in writing;

(2) executed by the credit union and each person claiming an adverse interest under the agreement, including the obligor, contemporaneously with the acquisition of the asset by the credit union;

(3) approved by the board with the approval recorded in the minutes of the board; and

(4) an official record of the credit union continuously from the time of its execution.