Tex.
Fin. Code Section 122.255
Determination of Misconduct
(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.
Source:
Section 122.255 — Determination of Misconduct, https://statutes.capitol.texas.gov/Docs/FI/htm/FI.122.htm#122.255 (accessed Jun. 5, 2024).
