Tex. Fin. Code § 66.402 · Subchapter I. MISCELLANEOUS PROVISIONS
PAYMENT OF INSURED DEPOSIT LIABILITIES BY FDIC.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
If the Federal Deposit Insurance Corporation pays the insured deposit liabilities of an association that has been closed or is being liquidated under this chapter, regardless of whether the Federal Deposit Insurance Corporation has become receiver or liquidating agent, the Federal Deposit Insurance Corporation is subrogated, to the extent of the payment, to all rights that the owners of the savings accounts or deposits have against the association.
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 0452d2582626b6441ce48c4c172e7cc1a3a8d4c3773d94124f7958b678faa705
- 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.