Texas Finance Code

§ 66.201 — PLACEMENT OF ASSOCIATION UNDER VOLUNTARY SUPERVISORY CONTROL

FI § 66.201Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part B. SAVINGS AND LOAN ASSOCIATIONS · Ch. 66. ENFORCEMENT AND REGULATION · Art. E. VOLUNTARY SUPERVISORY CONTROL

Statute text

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(a)An association's board may consent to the commissioner's placement of the association under supervisory control.

(b)The commissioner may appoint the supervisor and one or more deputy supervisors.

(c)Supervisory control continues until the conditions for which the supervisory control was imposed are corrected.

Legislative history

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