Tex. Finance Code § 339.004
This is the official text of Tex. Finance Code § 339.004, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 339.004. APPLICATION OF LICENSING REQUIREMENT AND SUBTITLE B TO CREDIT UNION OR EMPLOYEE BENEFIT PLAN.
Official statutory text
(a) A credit union is not subject to Subtitle B and is not required to obtain a license under this title.
(b) With respect to a loan that an employee benefit plan that is subject to Title I of the Employee Retirement Income Security Act of 1974 (29 U.S.C. Sections 1001-1114) makes to a participant in the plan or a participant's beneficiary, the plan is not subject to Subtitle B and is not required to obtain a license under this title.
(b) With respect to a loan that an employee benefit plan that is subject to Title I of the Employee Retirement Income Security Act of 1974 (29 U.S.C. Sections 1001-1114) makes to a participant in the plan or a participant's beneficiary, the plan is not subject to Subtitle B and is not required to obtain a license under this title.
Status: in_force · Read it on the official government site
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