reglab/housing_qa huggingface dataset:
TX Fin Code § 122.251 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 122 - Organizational and Financial Requirements|Subchapter F. Misconduct and Enforcement|Section 122.251. Defamation

Sec. 122.251.  DEFAMATION.  (a)  A person commits an offense if the person knowingly:(1)  makes, circulates, or transmits to another person a false statement that is derogatory to the financial condition of a credit union with the intent to injure that credit union;  or(2)  counsels, aids, procures, or induces another person to make, circulate, or transmit a false statement that is derogatory to the financial condition of a credit union with the intent to injure that credit union.(b)  An offense under this section is a third degree felony.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 122.252 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 122 - Organizational and Financial Requirements|Subchapter F. Misconduct and Enforcement|Section 122.252. Consideration for Loan, Investment, or Purchase

Sec. 122.252.  CONSIDERATION FOR LOAN, INVESTMENT, OR PURCHASE.  (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.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 122.253 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 122 - Organizational and Financial Requirements|Subchapter F. Misconduct and Enforcement|Section 122.253. Loan to Nonmember

Sec. 122.253.  LOAN TO NONMEMBER.  (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 permits a loan to be made to a nonmember or participates in a loan to a nonmember.(b)  An offense under this section is a Class B misdemeanor.(c)  A person who commits an offense described by Subsection (a) is primarily liable to the credit union for the amount illegally loaned.  The illegality of the loan is not a defense in an action by the credit union to recover on the loan.(d)  Extending credit to a nonmember as a comaker with a member or extending credit to a nonmember for the sale of property owned by the credit union or for the sale of assets acquired in liquidation or repossession is authorized and is not a loan to a nonmember.  Acquiring a promissory note or other asset by a share and deposit guaranty corporation or credit union authorized under Section 15.410, on which a nonmember is liable, is not a loan to a nonmember.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 122.254 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 122 - Organizational and Financial Requirements|Subchapter F. Misconduct and Enforcement|Section 122.254. False Statements or Documents; Destruction of Records

Sec. 122.254.  FALSE STATEMENTS OR DOCUMENTS;  DESTRUCTION OF RECORDS.  (a)  A person commits an offense if the person, knowingly and with the intent to deceive:(1)  makes a false entry on a record, report, or statement of a credit union;  or(2)  in connection with an examination or investigation of a credit union by the commissioner, a deputy commissioner, or the department's authorized examiner, exhibits a false paper, instrument, or security or gives under oath a false answer to a question directly related to the examination or investigation asked the person by the commissioner, the deputy commissioner, or the department's authorized examiner.(b)  A person commits an offense if the person knowingly removes, destroys, or conceals a record of the credit union for the purpose of concealing a fact or information from the commissioner, a deputy commissioner, or the department's authorized examiner.(c)  An offense under this section is a third degree felony.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 122.255 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 122 - Organizational and Financial Requirements|Subchapter F. Misconduct and Enforcement|Section 122.255. Determination of Misconduct

Sec. 122.255.  DETERMINATION OF MISCONDUCT.  The commissioner may determine that an officer, director, honorary director, advisory director, or employee of a credit union, or the credit union itself, acting by and through an officer, director, honorary director, advisory director, or employee, has:(1)  violated this subtitle, a rule adopted under this subtitle, or another law applicable to a credit union;(2)  violated or refused to comply with a final order of the commissioner or commission;(3)  wilfully neglected to perform an official or legal duty or wilfully committed a breach of trust or fiduciary duty;(4)  committed a fraudulent or questionable practice in the conduct of the credit union's business that endangers the credit union's reputation or threatens its solvency;(5)  refused to submit to examination under oath or to permit examination of the credit union's records and affairs by the commissioner or the commissioner's representative;(6)  failed or refused to authorize and direct another person to permit the commissioner or the commissioner's representative to examine the credit union's records in the other person's custody after the commissioner has requested the authorization of and direction to the other person;(7)  conducted the credit union's business in an unsafe, unauthorized, or unlawful manner;(8)  concealed, destroyed, removed, or falsified a record related to the credit union's business and affairs;(9)  transacted business while the credit union was in an unsafe or unsound condition;(10)  violated a condition of the credit union's articles of incorporation or of a written agreement with the commissioner or the commission;  or(11)  committed a criminal act that is a substantial detriment to the reputation and conduct of the credit union's business.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2003, 78th Leg., ch. 533, Sec. 27, eff. Sept. 1, 2003.|
TX Fin Code § 122.256 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 122 - Organizational and Financial Requirements|Subchapter F. Misconduct and Enforcement|Section 122.256. Determination Letter; Board Meeting

Sec. 122.256.  DETERMINATION LETTER;  BOARD MEETING.  (a)  If the commissioner determines from examination or other credible evidence that a credit union is in a condition that may warrant the issuance of an order under this chapter or Chapter 126, the commissioner may notify the credit union in writing of the commissioner's determination, the requirements the credit union must satisfy to abate the determination, and the time by which the requirements must be satisfied to avert further administrative action.  The determination letter must be delivered in person or sent by registered or certified mail, return receipt requested.(b)  If considered necessary, the commissioner may call a meeting of the credit union's board.  The directors shall attend the meeting.  The commissioner shall present to the board the findings stated in the determination letter and shall demand the discontinuance of any violation or unsafe or unsound practice found.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2003, 78th Leg., ch. 533, Sec. 28, eff. Sept. 1, 2003.|
TX Fin Code § 122.257 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 122 - Organizational and Financial Requirements|Subchapter F. Misconduct and Enforcement|Section 122.257. Cease and Desist Order for Credit Unions

Sec. 122.257.  CEASE AND DESIST ORDER FOR CREDIT UNIONS.  (a)  If the commissioner makes a finding listed in Section 122.255 and determines that an order to cease and desist is necessary and in the best interest of the credit union involved and its depositors, creditors, and members, the commissioner may serve on the credit union, its board, and each offending person an order to cease and desist from a violation or practice specified in the order and to take affirmative action that the commissioner considers necessary to correct a condition resulting from a violation or unsafe or unsound practice found.(b)  The order must:(1)  be in writing;(2)  be served:(A)  at the meeting called under Section 122.256 or not later than the 30th day after the date of that meeting;  and(B)  by certified or registered mail, addressed to the credit union at the last address of its principal office as shown by department records, or by delivery to an officer or director of the credit union;  and(3)  unless the order is effective immediately on service as provided by Subsection (d), state the effective date of the order, which may not be before the 10th day after the date the order is served.(c)  Service by mail is complete on deposit of the paper, enclosed in a postpaid, properly addressed wrapper, in a post office or official depository under the care and custody of the United States Postal Service.(d)  A cease and desist order is effective immediately on service if the commissioner finds that:(1)  the solvency of the credit union is endangered;(2)  there is a continuing violation of this subtitle  or a rule adopted under this subtitle;  or(3)  there is a threat of immediate and irreparable harm to the public or the credit union or its depositors, creditors, or members.(e)  The order is final unless, not later than the 10th day after the date the order is served, the credit union files with the commissioner written notice of appeal that includes a certified copy of the board resolution.(f)  A copy of the order shall be entered in the minutes of the board meeting.  The directors shall certify to the commissioner in writing that each director has read the order.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2003, 78th Leg., ch. 533, Sec. 29, eff. Sept. 1, 2003.Amended by: Acts 2009, 81st Leg., R.S., Ch. 695 (H.B. 2735), Sec. 18, eff. September 1, 2009.|
TX Fin Code § 122.2575 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 122 - Organizational and Financial Requirements|Subchapter F. Misconduct and Enforcement|Section 122.2575. Cease and Desist Order for Other Persons

Sec. 122.2575.  CEASE AND DESIST ORDER FOR OTHER PERSONS.  (a)  If it appears to the commissioner that a person who is not authorized to engage in business under this subtitle or the Federal Credit Union Act (12 U.S.C. Section 1751 et seq.) is violating this subtitle, a rule adopted under this subtitle, or another state statute or rule relating to the regulation of credit unions, the commissioner may issue without notice and hearing an order to cease and desist from continuing a particular action to enforce compliance with the applicable state statute or rule relating to the regulation of credit unions.  The order must contain a reasonably detailed statement of the fact on which the order is made.(b)  If a person against whom an order under this section is made requests a hearing, the commissioner shall set and give notice of a hearing before the commissioner or a hearings officer.  The hearing shall be governed by Chapter 2001, Government Code.(c)  An order under this section becomes final unless the person to whom the order is issued requests a hearing not later than the 30th day after the date the order is issued.  If a hearing has not been requested not later than the 30th day after the date the order is made, the order is considered final and nonappealable.|Added by Acts 2009, 81st Leg., R.S., Ch. 695 (H.B. 2735), Sec. 19, eff. September 1, 2009.|
TX Fin Code § 122.258 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 122 - Organizational and Financial Requirements|Subchapter F. Misconduct and Enforcement|Section 122.258. Removal Order

Sec. 122.258.  REMOVAL ORDER.  (a)  The commissioner by order may remove or prohibit a person who is a current or former officer, director, manager, or employee of a credit union from office, employment, or further participation in the affairs of a credit union if the commissioner by examination or other credible evidence:(1)  finds that:(A)  the person has continued a violation or practice previously charged and found by the commissioner after issuance of a determination letter under Section 122.256 or a cease and desist order under Section 122.257;  and(B)  removal or prohibition is necessary and in the best interest of the credit union and its depositors, creditors, and members;  or(2)  makes a finding listed in Section 122.255 and determines that removal or prohibition of the person is immediately necessary because the person has committed or is about to commit:(A)  a fraudulent or criminal act involving the conduct of the business of the credit union;(B)  an act that may cause the credit union to become insolvent or to be placed in imminent danger of insolvency;  or(C)  an act that otherwise threatens immediate and irreparable harm to the public or the credit union or its members, depositors, or creditors.(b)  The removal order must:(1)  state with reasonable certainty the grounds for removal;  and(2)  be promptly served on the person removed and on the credit union in the manner provided by Section 122.257 for service of a cease and desist order.(c)  On issuance of the order, the person has no right, duty, or authority of office or employment in the credit union.  After the order becomes final, the person removed or prohibited may not hold office in, be employed by, or participate in the affairs of any credit union without the prior written approval of the commissioner.  The order is final as of the date of issuance unless the person removed or prohibited or the credit union, as evidenced by a certified copy of the board resolution, files written notice of appeal with the commissioner not later than the 10th day after the day the removal order is served.(d)  A copy of the removal order shall be entered in the board minutes.  An officer shall acknowledge receipt of the order and certify to the commissioner that each person named in the removal order has been removed from office or employment.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2003, 78th Leg., ch. 533, Sec. 30, eff. Sept. 1, 2003.|
TX Fin Code § 122.259 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 122 - Organizational and Financial Requirements|Subchapter F. Misconduct and Enforcement|Section 122.259. Hearing on Appeal of Proposed Order

Sec. 122.259.  HEARING ON APPEAL OF PROPOSED ORDER.  (a)  If the credit union or a person removed from office or employment files a notice of appeal of a cease and desist order or a removal order, the commissioner shall set a time and place for the commission to hear the appeal in accordance with commission rules.(b)  The filing of an appeal does not suspend a removal order or cease and desist order.(c)  At the conclusion of the hearing, the commission may vacate, affirm, or modify the commissioner's order and may order that appropriate action be taken.(d)  A cease and desist order or a removal order is final on completion of an appeal or otherwise as provided by this subchapter.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 122.260 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 122 - Organizational and Financial Requirements|Subchapter F. Misconduct and Enforcement|Section 122.260. Administrative Penalty; Injunction

Sec. 122.260.  ADMINISTRATIVE PENALTY;  INJUNCTION.  (a)  If a credit union or other person designated in a final order under this subchapter does not comply with the order, the commissioner, after giving notice, may assess an administrative penalty against the credit union, the designated person, or both, in an amount of not less than $100 or more than $10,000 each for each day of the violation of the order.(b)  The credit union may not reimburse or indemnify a person for any part of the administrative penalty.(c)  The commissioner may bring suit for injunction or to collect the administrative penalty in a district court of Travis County.  In the suit, a certificate by the commissioner showing a failure to pay an administrative penalty is prima facie evidence of:(1)  the imposition of the penalty or the delinquency of the stated penalty amount;  and(2)  compliance by the department with the law relating to the computation and imposition of the penalty.(d)  The attorney general is entitled to recover reasonable attorney's fees from the credit union or the designated person, or both, if the attorney general prevails in a judicial action necessary for collection of the administrative penalty.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2003, 78th Leg., ch. 533, Sec. 31, eff. Sept. 1, 2003.|
TX Fin Code § 122.261 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 122 - Organizational and Financial Requirements|Subchapter F. Misconduct and Enforcement|Section 122.261. Confidentiality

Sec. 122.261.  CONFIDENTIALITY.  (a)  A determination letter, a cease and desist order, a removal order, each copy of a notice or correspondence, and all other documents or records relating to an order or determination letter issued under this subchapter are confidential and are not subject to public disclosure except in an action authorized by this subtitle or other authority.(b)  The commissioner may disclose the information described by Subsection (a) to a share and deposit guaranty corporation or credit union or to a department, agency, or instrumentality of this state, another state, or the United States if the commissioner determines the disclosure is necessary or proper for the enforcement of the laws of this state or the United States.(c)  The commissioner may release information regarding the existence of a final order to the public if the commissioner concludes that the release would enhance effective enforcement of the order.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 157, Sec. 10, eff. Sept. 1, 1999;  Acts 2003, 78th Leg., ch. 533, Sec. 32, eff. Sept. 1, 2003.|
TX Fin Code § 123.001 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 123 - General Powers|Subchapter A. General Powers|Section 123.001. General Powers

Sec. 123.001.  GENERAL POWERS.  A credit union may exercise any power necessary or appropriate to accomplish the purposes for which it is organized and any power granted a corporation authorized to do business in this state, including any power specified in this chapter.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 123.002 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 123 - General Powers|Subchapter A. General Powers|Section 123.002. Incidental Powers

Sec. 123.002.  INCIDENTAL POWERS.  A credit union may exercise any right, privilege, or incidental power necessary or appropriate to exercise its specific powers and to accomplish the purposes for which it is organized.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 123.003 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 123 - General Powers|Subchapter A. General Powers|Section 123.003. Enlargement of Powers

Sec. 123.003.  ENLARGEMENT OF POWERS.  (a)  A credit union may engage in any activity in which it could engage, exercise any power it could exercise, or make any loan or investment it could make, if it were operating as a federal credit union.(b)  Notwithstanding any other law, and in addition to the powers and authorities conferred under Subsection (a), a credit union has the powers or authorities of a foreign credit union operating a branch in this state if the commissioner finds that exercise of those powers or authorities is convenient for and affords an advantage to the credit union's members and maintains the fairness of competition and parity between the credit union and any foreign credit union.  A credit union does not have the field of membership powers or authorities of a foreign credit union operating a branch in this state.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 87, Sec. 3, eff. Sept. 1, 1999;  Acts 2003, 78th Leg., ch. 533, Sec. 33, eff. Sept. 1, 2003.|
TX Fin Code § 123.101 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 123 - General Powers|Subchapter B. Operational Powers|Section 123.101. Contracts

Sec. 123.101.  CONTRACTS.  A credit union may make contracts.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 123.102 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 123 - General Powers|Subchapter B. Operational Powers|Section 123.102. Power to Sue and Defend

Sec. 123.102.  POWER TO SUE AND DEFEND.  A credit union may sue or be sued in the name of the credit union.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 123.103 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 123 - General Powers|Subchapter B. Operational Powers|Section 123.103. Purchase and Sale of Property

Sec. 123.103.  PURCHASE AND SALE OF PROPERTY.  Subject to commission rules, a credit union may purchase, hold, lease, or dispose of property necessary or incidental to the operation or purpose of the credit union.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 123.104 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 123 - General Powers|Subchapter B. Operational Powers|Section 123.104. Membership in Other Organization; Operation as Central Credit Union

Sec. 123.104.  MEMBERSHIP IN OTHER ORGANIZATION;  OPERATION AS CENTRAL CREDIT UNION.  A credit union may:(1)  be a member of:(A)  another credit union organized under this subtitle  or other law;  and(B)  another organization approved by the board;  or(2)  operate, with the commissioner's approval, as a central credit union.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 123.105 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 123 - General Powers|Subchapter B. Operational Powers|Section 123.105. Fees

Sec. 123.105.  FEES.  (a)  A credit union may collect a fee, determined by the board, for services and administrative costs, including a fee for a check or draft that is returned because it is drawn against a closed account or an account containing insufficient or uncollected money, because of a stop payment order, or for another similar reason.(b)  A fee under this section is an administrative expense.  The fee is in addition to interest authorized by law and is not a part of interest collected or agreed to be paid on a loan.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|