<<Prev Rule

Texas Administrative Code

 Next Rule>>
TITLE 7BANKING AND SECURITIES
PART 6CREDIT UNION DEPARTMENT
CHAPTER 91CHARTERING, OPERATIONS, MERGERS, LIQUIDATIONS
SUBCHAPTER OTRUST POWERS
RULE §91.6014Errors and Omissions Insurance

The credit union shall procure errors and omission insurance sufficient to mitigate the risks involved in fiduciary activities, but at no time shall errors and omissions insurance coverage be less than five hundred thousand dollars. A credit union shall conduct and document the annual analysis of the appropriateness of the current coverage.
Source Note: The provisions of this §91.6014 adopted to be effective August 10, 2003, 28 TexReg 6270; amended to be effective May 31, 2020, 45 TexReg 3438

Link to Texas Secretary of State Home Page | link to Texas Register home page | link to Texas Administrative Code home page | link to Open Meetings home page