Current as of April 14, 2021 | Updated by FindLaw Staff
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(a) The liquidating agent may not acquire an asset of the credit union in liquidation or purchase a loan of the credit union without the commissioner's prior written approval.
(b) A liquidating agent may not obtain from the liquidation compensation or profit for:
(1) direct or indirect personal benefit;
(2) the benefit of a family member of or a person associated with the liquidating agent; or
(3) the benefit of a business enterprise with which the liquidating agent is associated, other than the credit union.
Cite this article: FindLaw.com - Texas Finance Code - FIN § 126.353. Conflict of Interest - last updated April 14, 2021 | https://codes.findlaw.com/tx/finance-code/fin-sect-126-353/
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