Texas Finance Code - FIN § 92.153. Qualification of Directors
Current as of April 14, 2021 | Updated by FindLaw Staff
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(a) A person is not qualified to be a director of a savings bank if the person:
(1) is less than 18 years of age;
(2) has been adjudicated bankrupt or convicted of a criminal offense involving dishonesty or breach of trust, unless the commissioner gives the person prior written approval to be a director;
(3) has a final judgment entered against the person for an amount of money that has remained unsatisfied or unsecured for more than six months after the date of the judgment's entry, unless:
(A) the commissioner gives the person prior written approval to be a director; or
(B) the judgment was satisfied of record more than one year before the election date; or
(4) is a director, officer, or employee of another savings bank, unless the commissioner gives the person prior written approval to be a director.
(b) The bylaws of a savings bank may prescribe other qualifications for a director.
Cite this article: FindLaw.com - Texas Finance Code - FIN § 92.153. Qualification of Directors - last updated April 14, 2021 | https://codes.findlaw.com/tx/finance-code/fin-sect-92-153.html
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