Tex. Fin. Code Section 33.104
Advisory Director


(a)

An advisory director is not considered a director if the advisory director:

(1)

is not elected by the shareholders of the bank;

(2)

does not vote on matters before the board or a committee of the board;

(3)

is not counted for purposes of determining a quorum of the board or committee; and

(4)

provides solely general policy advice to the board.

(b)

A state bank may not disclose to an advisory director confidential information pertaining to the bank or the bank’s customers unless:

(1)

the board adopts a resolution that designates the advisory director as a person who is officially connected to the bank and that describes the purpose for disclosure of the information, which must be a reasonable business purpose; and

(2)

the disclosure is made under a written confidentiality agreement between the bank and the advisory director.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 28, eff. September 1, 2007.
Acts 2013, 83rd Leg., R.S., Ch. 940 (H.B. 1664), Sec. 5, eff. June 14, 2013.

Source: Section 33.104 — Advisory Director, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­33.­htm#33.­104 (accessed May 18, 2024).

Accessed:
May 18, 2024

§ 33.104’s source at texas​.gov