Texas § IN.829.005 - CONFLICT OF INTEREST
Full text of Texas The Texas Constitution § IN.829.005 — CONFLICT OF INTEREST, with citation guidance and answers to common questions.
§ IN.829.005. CONFLICT OF INTEREST
CONFLICT OF INTEREST. (a) Except as provided by a conversion plan approved by the commissioner or by this section, the following individuals may not receive a fee, commission, stock distribution, stock subscription rights, or other consideration, other than that individual's usual salary or compensation for aiding, promoting, assisting, or participating in a conversion under this chapter: (1) a director, officer, agent, or employee of a converting exchange or the exchange's attorney in fact; or (2) the attorney in fact if the attorney in fact is an individual. (b) Subsection (a) does not apply to consideration received in the individual's capacity as a member. (c) This section does not prohibit the payment of reasonable fees and compensation to an attorney, accountant, or actuary for professional services performed by that person, without regard to whether the person is also a director or officer of the converting exchange or its attorney in fact. Added by Acts 2007, 80th Leg., R.S., Ch. 412 (S.B. 1056 ), Sec. 1, eff. June 15, 2007.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § IN.829.005
What does The Texas Constitution § IN.829.005 cover?
Section IN.829.005 ("CONFLICT OF INTEREST") 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 § IN.829.005?
A common citation format is "The Texas Constitution § IN.829.005" (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 § IN.829.005 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.