Opinion No.

Honorable John P. Parsons Commissioner Credit Union Department 914 East Anderson Lane Austin, Texas 78752

Re: Whether a state chartered credit union may be licensed to make loans under the Texas Credit Code, and what rate of interest may be charged by the credit union on such loans

Dear Mr. Parsons:

You ask two questions concerning the applicability of the Texas Credit Code, article 5069, V.T.C.S., to the Texas Credit Union Act, article 2461, V.T.C.S. The first question you ask is:

1. May a credit union chartered by the State of Texas obtain a license to operate as a regulated lender under the…