Tex. Fin. Code § 273.211 · Subchapter C. OPERATION OF CORPORATION
EFFECT OF DISSOLUTION.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) On dissolution, money in the primary account shall be used to redeem all securities issued by the corporation and held by a member association. If money in the primary account is insufficient to redeem the securities, the administrative account may be used.
(b) On dissolution, the earnings of the corporation accrue to this state and may not be distributed to any other person.
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.273.htm
- Text hash
- sha256 0eedd8cf3182e9621da7245108d7c310bd87834b4f078b34b8ad5c87b578d21f
- 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.