Tex. Finance Code § 122.064
INDEMNIFICATION
Texas · Texas Finance Code · Status: effective
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- Citation
- Tex. Finance Code § 122.064, INDEMNIFICATION, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/645899
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Full text
A credit union may elect to indemnify a director, officer, employee, or agent of the credit union and to purchase insurance as if the credit union were an "enterprise" as defined by Section 8.001, Business Organizations Code, under and subject to the credit union's bylaws and written policy. A credit union may not provide any indemnification or insurance that would not be permissible under Chapter 8, Business Organizations Code, but may elect to impose the credit union's own limitations on indemnification.