Texas Finance Code

§ 66.303 — DUTIES OF LIQUIDATING AGENT

FI § 66.303Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part B. SAVINGS AND LOAN ASSOCIATIONS · Ch. 66. ENFORCEMENT AND REGULATION · Art. G. LIQUIDATION

Statute text

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(a)Under the commissioner's supervision, the liquidating agent shall:

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

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

(3)sue in the name of the liquidating agent or the association;

(4)defend an action brought against the liquidating agent or the association;

(5)receive, examine, and pass on a claim brought against the association, including a claim of a depositor;

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Legislative history

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