Texas Finance Code

§ 66.352 — DUTIES OF RECEIVER

FI § 66.352Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part B. SAVINGS AND LOAN ASSOCIATIONS · Ch. 66. ENFORCEMENT AND REGULATION · Art. H. RECEIVERSHIP OF UNINSURED ASSOCIATIONS

Statute text

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On appointment, the receiver shall:

(1)immediately take charge of the affairs of the association, subject to the direction of the court; and

(2)conduct the business of the association or act as necessary to conserve the assets and protect the rights of the depositors or creditors and shareholders and members of the association.

Legislative history

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