Tex. Fin. Code § 66.152 · Subchapter D. CONSERVATORSHIP
DUTIES OF CONSERVATOR.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The conservator and any deputy or assistant conservator appointed by the commissioner, under the direction and supervision of the commissioner, shall:
(1) take possession and control of the books, records, property, assets, liabilities, and business of the association; and
(2) conduct the business and affairs of the association.
(b) The conservator shall:
(1) undertake to remove the causes and conditions that made the conservatorship necessary; and
(2) during the conservatorship, report to the commissioner as required by the commissioner.
(c) The conservator shall take measures necessary to preserve, protect, and recover the assets or property of the association, including a claim or cause of action that belongs to or may be asserted by the association. The conservator may deal with that property in the capacity of conservator.
(d) The conservator may file, prosecute, or defend a suit brought by or against the association if the conservator considers it necessary to protect the interested party or property affected by the suit.
(e) A suit filed by the conservator under Subsection (c) must be brought in Travis County.
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.66.htm
- Text hash
- sha256 8cf47456dcd7c36c523b2bc994665b58dc09cd9d1c8f1a775c25a90456da3d9d
- 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.