Texas Finance Code 122.252 – Consideration for Loan, Investment, or Purchase
Current as of: 2024 | Check for updates
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(a) A person commits an offense if the person:
(1) is a director, honorary director, advisory director, committee member, officer, or employee of a credit union; and
(2) knowingly demands or receives, directly or indirectly, consideration for the credit union’s making a specific loan or investment or purchasing an asset.
(b) An offense under this section is a Class A misdemeanor.
Attorney's Note
Under the Texas Codes, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class A misdemeanor | up to 1 year | up to $4,000 |
Terms Used In Texas Finance Code 122.252
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005