Texas Statutes (Last Updated: January 4, 2014) |
FINANCE CODE |
Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES |
Subtitle D. CREDIT UNIONS |
Chapter 126. CREDIT UNION SUPERVISION AND REGULATION |
Subchapter F. ADMINISTRATION OF LIQUIDATION |
Sec. 126.252. COMPENSATION OF CREDIT UNION EMPLOYEES AND OFFICERS
Latest version.
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(a) This chapter does not prevent compensation of a salaried employee or officer of a credit union during the credit union's liquidation.
(b) The compensation is considered an incidental expense of the liquidation.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.