Tex. Fin. Code § 37.005 · Chapter 37. EMERGENCIES
LIMITATIONS ON WITHDRAWALS FROM STATE BANK.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) At the request of a state bank that is experiencing or threatened with unusual and excessive withdrawals because of financial conditions, panic, or crisis, the banking commissioner, to prevent unnecessary loss to or preference among the depositors and creditors of the bank and to preserve the financial structure of the bank and its usefulness to the community, may issue an order limiting the right of withdrawal by or payment to depositors, creditors, and other persons to whom the bank is liable.
(b) The order:
(1) must expire not later than the 10th day after the date it is issued;
(2) must be uniform in application to each class of liability; and
(3) is not subject to judicial review.
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.37.htm
- Text hash
- sha256 1ca0fa3345f424406c11908577d2cf6fb90692c57e37df906244ccbbedb893a1
- 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.