Tex. Fin. Code Section 339.004
Application of Licensing Requirement and Subtitle B to Credit Union or Employee Benefit Plan

(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.
Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.

Source: Section 339.004 — Application of Licensing Requirement and Subtitle B to Credit Union or Employee Benefit Plan, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­339.­htm#339.­004 (accessed May 18, 2024).

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Accessed:
May 18, 2024

§ 339.004’s source at texas​.gov