Texas Finance Code

§ 66.152 — DUTIES OF CONSERVATOR

FI § 66.152Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part B. SAVINGS AND LOAN ASSOCIATIONS · Ch. 66. ENFORCEMENT AND REGULATION · Art. D. CONSERVATORSHIP

Statute text

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(a)The conservator and any deputy or assistant conservator appointed by the commissioner, under the direction and supervision of the commissioner, shall:

(1)take possession and control of the books, records, property, assets, liabilities, and business of the association; and

(2)conduct the business and affairs of the association.

(b)The conservator shall:

(1)undertake to remove the causes and conditions that made the conservatorship necessary; and

(2)during the conservatorship, report to the commissioner as required by the commissioner.

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Legislative history

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