SECTION 91.716. Prohibited Fees

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A credit union shall not make any loan or extend any credit if, either directly or indirectly, any commission, fee, or other compensation from any person or entity other than the credit union is to be received by the credit union's directors, committee members, senior management employees, loan officers, or any immediate family members of such individuals, in connection with underwriting, insuring, servicing, or collecting the loan or extension of credit.

Source Note: The provisions of this §91.716 adopted to be effective August 9, 1999, 24 TexReg 6023

                    
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