Section 122.253 - Loan to Nonmember(a) A person commits an offense if the person:(1) is a director, honorary director, advisory director, committee member, officer, or employee of a credit union; and(2) knowingly permits a loan to be made to a nonmember or participates in a loan to a nonmember.(b) An offense under this section is a Class B misdemeanor.(c) A person who commits an offense described by Subsection (a) is primarily liable to the credit union for the amount illegally loaned. The illegality of the loan is not a defense in an action by the credit union to recover on the loan.(d) Extending credit to a nonmember as a comaker with a member or extending credit to a nonmember for the sale of property owned by the credit union or for the sale of assets acquired in liquidation or repossession is authorized and is not a loan to a nonmember. Acquiring a promissory note or other asset by a share and deposit guaranty corporation or credit union authorized under Section 15.410, on which a nonmember is liable, is not a loan to a nonmember. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. 9/1/1997.