Texas Finance Code

§ 126.301 — CLAIMS AGAINST CREDIT UNION

FI § 126.301Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part D. CREDIT UNIONS · Ch. 126. CREDIT UNION SUPERVISION AND REGULATION · Art. G. CLAIMS RELATING TO CREDIT UNION IN LIQUIDATION

Statute text

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The liquidating agent shall:

(1)determine the existence and amount of claims;

(2)allow proved claims of security, preference, or priority;

(3)settle or release a claim in favor of or against the credit union;

(4)disallow unproved claims of security, preference, or priority; and

(5)make distributions to and pay creditors and members of the credit union as their interests appear.

Legislative history

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