Texas Finance Code - FIN § 33.109. Transactions with Management and Affiliates

(a) Without the prior approval of a disinterested majority of the board recorded in the minutes or, if a disinterested majority cannot be obtained, the prior written approval of the banking commissioner, a state bank may not directly or indirectly:

(b) An officer or director of the bank who knowingly participates in or permits a violation of this section commits an offense.  An offense under this subsection is a felony of the third degree.