Texas Finance Code

§ 126.251 — PERMISSIBLE ACTIVITIES IN LIQUIDATION

FI § 126.251Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part D. CREDIT UNIONS · Ch. 126. CREDIT UNION SUPERVISION AND REGULATION · Art. F. ADMINISTRATION OF LIQUIDATION

Statute text

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(a)A credit union in liquidation continues in existence to discharge debts, collect and distribute assets, and wind up the credit union's business.

(b)The credit union may sue and be sued to enforce debts and obligations until its affairs are fully adjusted.

Legislative history

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