Tex. Finance Code § 122.056
HONORARY OR ADVISORY DIRECTORS
Texas · Texas Finance Code · Status: effective
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- Citation
- Tex. Finance Code § 122.056, HONORARY OR ADVISORY DIRECTORS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/645891
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Full text
(a) The board may appoint not more than six individuals to serve at the board's pleasure as honorary or advisory directors to advise and consult with the board and otherwise aid the board in carrying out the board's duties and responsibilities.
(b) An honorary or advisory director:
(1) need not be eligible for membership in the credit union;
(2) is not a member of the board; and
(3) is not entitled to vote on a matter before the board.
(c) An honorary or advisory director may participate in any board deliberation. Except as otherwise provided by Section 125.402(d), an honorary or advisory director shall hold in confidence all information the director receives about a credit union during the director's service.