Texas Government Code 404.109 – Restrictions On Advisory Board Appointment, Membership, and Employment
Current as of: 2024 | Check for updates
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Terms Used In Texas Government Code 404.109
- 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
- Year: means 12 consecutive months. See Texas Government Code 311.005
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.