Tex. Fin. Code § 36.101 · Subchapter B. VOLUNTARY DISSOLUTION
INITIATING VOLUNTARY DISSOLUTION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A state bank may initiate voluntary dissolution and surrender its charter as provided by this subchapter:
(1) with the approval of the banking commissioner;
(2) after complying with the provisions of the Business Organizations Code regarding board and shareholder approval for voluntary dissolution; and
(3) by filing the documents as provided by Section 36.102.
(b) The shareholders of a state bank initiating voluntary dissolution by resolution shall appoint one or more persons to act as the liquidating agent or committee. The liquidating agent or committee shall conduct the liquidation as provided by law and under the supervision of the bank's board. The board, in consultation with the banking commissioner, shall require the liquidating agent or committee to give a suitable bond.
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 49, eff. September 1, 2007.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.36.htm
- Text hash
- sha256 1351182ac3a374b6ab749442c941583e22e084f46b38023196d01cd200ca2ce2
- 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
This section cites
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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.