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Texas Finance Code - FIN § 126.353. Conflict of Interest

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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: - Texas Finance Code - FIN § 126.353. Conflict of Interest - last updated April 14, 2021 |

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