Tex. Fin. Code § 66.306 · Subchapter G. LIQUIDATION
PRIORITY OF CLAIMS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
On liquidation of an association, claims for payment have the following priority:
(1) obligations incurred by the commissioner or the liquidating agent, fees and assessments due the Department of Savings and Mortgage Lending, and expenses of liquidation, all of which may be covered by the proper reserve of money;
(2) approved claims of creditors, to the extent that the claims are secured by, or constitute a lien on, the assets or property of the association;
(3) approved claims of depositors against the general liquidating account of the association;
(4) approved claims of general creditors and the unsecured portion of a creditor obligation described by Subdivision (2);
(5) otherwise approved claims that were not filed within the time prescribed by Section 66.305;
(6) approved claims of subordinated creditors; and
(7) claims of shareholders of the association.
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. 921 (H.B. 3167), Sec. 6.032, 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.66.htm
- Text hash
- sha256 0afcf8bcfec23e7fb0e38c6d68332734f23c144a86f8d488411a20a4f059a8c1
- 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
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
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.