Tex. Finance Code § 122.058
This is the official text of Tex. Finance Code § 122.058, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 122.058. CHIEF EXECUTIVE OFFICER.
Official statutory text
(a) The board may employ, elect, or appoint a president, who is the chief executive officer in charge of operations.
(b) The president may be a board member but may not be chairman, vice chairman, or secretary of the credit union. The president serves at the board's pleasure.
(c) Subject to board guidelines, the president shall appoint or employ, and may discharge, any other officer or employee the president considers necessary to operate the credit union. The president shall prescribe the title of an officer or employee appointed or employed under this subsection.
(b) The president may be a board member but may not be chairman, vice chairman, or secretary of the credit union. The president serves at the board's pleasure.
(c) Subject to board guidelines, the president shall appoint or employ, and may discharge, any other officer or employee the president considers necessary to operate the credit union. The president shall prescribe the title of an officer or employee appointed or employed under this subsection.
Status: in_force · Read it on the official government site
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