Tex. Fin. Code § 36.201 · Subchapter C. INVOLUNTARY DISSOLUTION AND LIQUIDATION
ACTION TO CLOSE STATE BANK.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The banking commissioner may close and liquidate a state bank on finding that:
(1) the interests of the bank's depositors and creditors are jeopardized by the bank's insolvency or imminent insolvency; and
(2) the best interests of depositors and creditors would be served by requiring that the bank be closed and its assets liquidated.
(b) A majority of the bank's directors may voluntarily close the bank and place it with the banking commissioner for liquidation.
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. 52, 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 75596f2495f1fd5b711ac73c8f2fe36cb4c4534a679b3d7196cbaa696b0c7556
- 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 2 provisions
Provisions in this library whose text cites Tex. Fin. Code § 36.201. 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.