Tex. Fin. Code § 66.252 · Subchapter F. CLOSING
CLOSING OF ASSOCIATION BY COMMISSIONER'S ORDER.
Text — Current through the 89th 2nd Called Legislative Session, 2025
The commissioner or the commissioner's representative may close an association if the commissioner determines after an examination that:
(1) the interests of the depositors and creditors of the association are jeopardized because of:
(A) the association's insolvency or imminent insolvency; or
(B) a substantial dissipation of the association's assets or earnings because of a violation of a law or an unsafe or unsound practice; and
(2) it is in the best interest of the depositors and creditors to close the association and liquidate the association's assets.
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 d7a70cfccf42cf046da4929fc71ff243222449e2e87fa805034c6fe4def32d6a
- 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 1 provision
Provisions in this library whose text cites Tex. Fin. Code § 66.252. 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.