(a) A commission member may not vote on or otherwise participate in the deliberation or decision of a matter pending before the commission:
  (1) in which the commission member has a personal or private interest; or
  (2) which directly affects the credit union of which the commission member is an officer, director, or member.
(b) The term "personal or private interest" shall be given the meaning as prescribed in Texas Government Code, §572.058, and includes a direct personal or financial interest in a credit union or other matter which is the subject of commission action.
(c) A commission member who is disqualified under subsection (a) of this section shall publicly disclose the fact to the commission in a meeting called and held in compliance with the Open Meetings Act, Texas Government Code, Chapter 551. The disclosure shall be entered in the minutes of the meeting.
(d) A commission member who is recused or disqualified will be counted in determining a quorum.

Source Note: The provisions of this §97.103 adopted to be effective February 17, 1998, 23 TexReg 1303.