Tex.
Fin. Code Section 14.056
Conflict of Interest
(a)
In this section, “Texas trade association” means a cooperative and voluntarily joined association of business or professional competitors in this state designed to assist its members and its industry or profession in dealing with mutual business or professional problems and in promoting their common interest.(b)
A person may not be an employee of the office employed in a “bona fide executive, administrative, or professional capacity,” as that phrase is used for purposes of establishing an exemption to the overtime provisions of the federal Fair Labor Standards Act of 1938 (29 U.S.C. Section 201 et seq.), and its subsequent amendments, if:(1)
the person is an officer, employee, or paid consultant of a Texas trade association in an industry regulated by the office; or(2)
the person’s spouse is an officer, manager, or paid consultant of a Texas trade association in an industry regulated by the office.(c)
A person may not act as the general counsel to the office if the person is required to register as a lobbyist under Chapter 305 (Registration of Lobbyists), Government Code, because of the person’s activities for compensation on behalf of a profession related to the operation of the office.
Source:
Section 14.056 — Conflict of Interest, https://statutes.capitol.texas.gov/Docs/FI/htm/FI.14.htm#14.056 (accessed Jun. 5, 2024).
