Tex. Fin. Code § 36.226 · Subchapter C. INVOLUNTARY DISSOLUTION AND LIQUIDATION
RESUMPTION OF BUSINESS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A state bank closed under Section 36.201 may not be reopened without the approval of the banking commissioner unless a contest of liquidation under Section 36.204 is finally resolved adversely to the banking commissioner and the court authorizes the bank's reopening.
(b) The banking commissioner may place temporary limits on the right of withdrawals by or payments to individual depositors and creditors of a bank reopened under this section. The limits:
(1) must apply equally to all unsecured depositors and creditors;
(2) may not defer a withdrawal by or payment to a secured depositor or creditor without the person's written consent; and
(3) may not postpone the right of full withdrawal or payment of unsecured depositors or creditors for more than 18 months after the date that the bank reopens.
(c) As a depositor or creditor of a reopened bank, this state or a political subdivision of this state may agree to temporary limits that the banking commissioner places on payments or withdrawals.
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.36.htm
- Text hash
- sha256 9fe3df4361427832f04a387a1d631063dbc480dc62957897b1e6297c8a4a135d
- 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.