Texas Finance Code

§ 126.203 — SUIT FOR INJUNCTION

FI § 126.203Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part D. CREDIT UNIONS · Ch. 126. CREDIT UNION SUPERVISION AND REGULATION · Art. E. LIQUIDATION ORDER; INJUNCTION

Statute text

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(a)Not later than the fifth day after the date on which the liquidation order is served, a credit union that has not requested or consented to a liquidation order may, if authorized by certified board resolution, sue to enjoin the commissioner from liquidating the credit union.

(b)The suit must be brought in the district court of the county in which the credit union's principal office is located.

Legislative history

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