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Current as of January 01, 2024 | Updated by Findlaw Staff
The board of trustees may not:
(1) extend credit to individual members for payment of a premium, except under payment plans approved by the commissioner; or
(2) without first advising the commissioner of the nature and purpose of the loan and obtaining prior approval from the commissioner, borrow any money from the group or in the name of the group except in the ordinary course of business.
Cite this article: FindLaw.com - Texas Labor Code - LAB § 407A.153. Prohibited Activities - last updated January 01, 2024 | https://codes.findlaw.com/tx/labor-code/lab-sect-407a-153/
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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