Texas Finance Code

§ 122.259 — HEARING ON APPEAL OF PROPOSED ORDER

FI § 122.259Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part D. CREDIT UNIONS · Ch. 122. ORGANIZATIONAL AND FINANCIAL REQUIREMENTS · Art. F. MISCONDUCT AND ENFORCEMENT

Statute text

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(a)If the credit union or a person removed from office or employment files a notice of appeal of a cease and desist order or a removal order, the commissioner shall set a time and place for the commission to hear the appeal in accordance with commission rules.

(b)The filing of an appeal does not suspend a removal order or cease and desist order.

(c)At the conclusion of the hearing, the commission may vacate, affirm, or modify the commissioner's order and may order that appropriate action be taken.

(d)A cease and desist order or a removal order is final on completion of an appeal or otherwise as provided by this subchapter.

Legislative history

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.