Tex. Fin. Code § 36.111

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 36.111 - Closure By Banking Commissioner for Involuntary Dissolution and Liquidation

The banking commissioner may close a state bank for involuntary dissolution and liquidation under this chapter if the banking commissioner determines that:

(1) the voluntary liquidation is:

(A) being conducted in an improper or illegal manner; or

(B) not in the best interests of the bank's depositors and creditors; or

(2) the bank is insolvent or imminently insolvent.

Tex. Fin. Code § 36.111

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. 9/1/1997.