Texas Finance Code

§ 62.503 — FINAL REPORT AND ACCOUNTING

FI § 62.503Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part B. SAVINGS AND LOAN ASSOCIATIONS · Ch. 62. ORGANIZATIONAL AND FINANCIAL REQUIREMENTS · Art. K. VOLUNTARY LIQUIDATION

Statute text

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(a)On completion of the liquidation, the board shall file with the commissioner a final report and accounting of the liquidation.

(b)The commissioner's approval of the report is a complete and final discharge of the board and each member in connection with the liquidation of the association.

Legislative history

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