Texas Administrative Code
Title 7 - BANKING AND SECURITIES
Part 6 - CREDIT UNION DEPARTMENT
Chapter 97 - COMMISSION POLICIES AND ADMINISTRATIVE RULES
Subchapter D - GIFTS AND BEQUESTS
Section 97.300 - Gifts of Money or Property
Current through Reg. 49, No. 38; September 20, 2024
(a) The department may accept money or property by gift, bequest, devise, or otherwise ("Donation"), only from an organization described in Section 501(c)(3), Internal Revenue Code of 1986, for the purposes of funding or performing any authorized activity ("Donor").
(b) All Donations must be accepted in an open meeting by a majority of the commission members present and reported in the minutes of the meeting setting forth the name of the Donor and the purpose of the Donation. Before accepting a Donation, the commission may require the Donor to provide information that the commission deems reasonable and necessary to ensure itself that the Donation is not being conveyed to directly or indirectly influence an official act of the department or the commission.
(c) The department may not solicit money or property from any person or organization to settle an administrative action or to keep the department from taking formal enforcement action.
