Texas Finance Code

§ 126.254 — POSSESSION, CONSOLIDATION, AND DISPOSITION OF ASSETS

FI § 126.254Title 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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The liquidating agent shall:

(1)receive and take possession of the books, records, assets, and property of the credit union;

(2)sell, enforce collection of, and liquidate assets and property; and

(3)sell or assign assets to the liquidating agent subject to Section 126.353.

Legislative history

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.36, eff. Sept. 1, 1999.