Tex. Fin. Code § 126.204 · Subchapter E. LIQUIDATION ORDER; INJUNCTION
ACTION PENDING INJUNCTION HEARING.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The court, without notice or hearing, may restrain the commissioner from liquidating the credit union's assets until after a hearing on the suit is held.
(b) If the court restrains the commissioner, the court shall instruct the commissioner to hold the credit union's assets in the commissioner's possession and control until disposition of the suit.
(c) With court approval, the commissioner may take any necessary or proper action to prevent loss or depreciation in the value of the assets.
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.126.htm
- Text hash
- sha256 e8b446e841395876ee2a82e76d93aa9532a4e371516811e3ed7a7ab28d7202ce
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.