Texas Finance Code

§ 126.158 — TRANSFER OF MANAGEMENT OF REHABILITATED CREDIT UNION

FI § 126.158Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part D. CREDIT UNIONS · Ch. 126. CREDIT UNION SUPERVISION AND REGULATION · Art. D. ADMINISTRATION OF CONSERVATORSHIP

Statute text

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If the credit union is rehabilitated, the conservator shall return the management of the credit union to the board under terms that are reasonable and necessary to prevent a recurrence of the conditions that created the need for conservatorship.

Legislative history

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