Texas § FI.33.109 - TRANSACTIONS WITH MANAGEMENT AND AFFILIATES
Full text of Texas The Texas Constitution § FI.33.109 — TRANSACTIONS WITH MANAGEMENT AND AFFILIATES, with citation guidance and answers to common questions.
§ FI.33.109. TRANSACTIONS WITH MANAGEMENT AND AFFILIATES
TRANSACTIONS WITH MANAGEMENT AND AFFILIATES. (a) Without the prior approval of a disinterested majority of the board recorded in the minutes or, if a disinterested majority cannot be obtained, the prior written approval of the banking commissioner, a state bank may not directly or indirectly: (1) sell or lease an asset of the bank to an officer, director, or principal shareholder of the bank or of an affiliate of the bank; or (2) purchase or lease an asset in which an officer, director, or principal shareholder of the bank or of an affiliate of the bank has an interest. (b) An officer or director of the bank who knowingly participates in or permits a violation of this section commits an offense. An offense under this subsection is a felony of the third degree. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 2001, 77th Leg., ch. 412, Sec. 2.11, eff. Sept. 1, 2001. Amended by: Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962 ), Sec. 30, eff. September 1, 2007. SUBCHAPTER C. LIMITED BANKING ASSOCIATION
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § FI.33.109
What does The Texas Constitution § FI.33.109 cover?
Section FI.33.109 ("TRANSACTIONS WITH MANAGEMENT AND AFFILIATES") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § FI.33.109?
A common citation format is "The Texas Constitution § FI.33.109" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § FI.33.109 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.