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Current as of January 01, 2024 | Updated by Findlaw Staff
A person is not eligible for appointment to the advisory board if the person or the person's spouse:
(1) is employed by or participates in the management of a business entity or other organization receiving funds from the trust company;
(2) owns or controls, directly or indirectly, more than a 10 percent interest in a business entity or other organization receiving funds from the trust company; or
(3) receives money from the business entity or other organization receiving funds from the trust company that exceeds five percent of the person's gross income for the preceding calendar year.
Cite this article: FindLaw.com - Texas Government Code - GOV'T § 404.109. Restrictions on Advisory Board Appointment, Membership, and Employment - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-404-109/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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