Sec. 22.055.  POWER TO ASSIST EMPLOYEE OR OFFICER.  (a)  A corporation may lend money to or otherwise assist an employee or officer of the corporation, but not a director, if the loan or assistance may reasonably be expected to directly or indirectly benefit the corporation.
(b)  A loan made to an officer must be:
(1)  made for the purpose of financing the officer's principal residence;  or
(2)  set in an original principal amount that does not exceed:
(A)  100 percent of the officer's annual salary, if the loan is made before the first anniversary of the officer's employment;  or
(B)  50 percent of the officer's annual salary, if the loan is made in any subsequent year.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.