Tex. Fin. Code § 126.304 · Subchapter G. CLAIMS RELATING TO CREDIT UNION IN LIQUIDATION
LIQUIDATION DIVIDENDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The liquidating agent from time to time shall make a ratable liquidation dividend on claims that have been:
(1) proved to the satisfaction of the board or the liquidating agent; or
(2) adjusted by a court.
(b) After the credit union's assets have been liquidated, the liquidating agent shall make further liquidation dividends on claims previously proved or adjusted.
(c) For purposes of making a further liquidation dividend under Subsection (b), the liquidating agent may accept the statement of an amount due a claimant as shown on the credit union's books and records instead of a formal proof of claim filed on the claimant's behalf.
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 0812cfba2369dca3c0868407df975c4b02d58c00bbd2489687318c53dd816a15
- 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
Cited by 1 provision
Provisions in this library whose text cites Tex. Fin. Code § 126.304. Each shows the citation as that text prints it.
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.