Section 35.106 - Authority Of Supervisor During a period of supervision, a bank, without the prior approval of the banking commissioner or the supervisor or as otherwise permitted or restricted by the order of supervision, may not:
(1) dispose of, sell, transfer, convey, or encumber the bank's assets; (2) lend or invest the bank's money; (3) incur a debt, obligation, or liability; (4) pay a cash dividend to the bank's shareholders; (5) remove an executive officer or director, change the number of executive officers or directors, or have any other change in the position of executive officer or director; or (6) engage in any other activity determined by the banking commissioner to threaten the safety and soundness of the bank. Amended by Acts 2023, Texas Acts of the 88th Leg.- Regular Session, ch. 989,Sec. 7, eff. 6/18/2023.Amended by Acts 2013, 83rd Leg. - Regular Session, ch. 940,Sec. 10, eff. 6/14/2013.Amended By Acts 2007, 80th Leg., R.S., Ch. 237, Sec. 47, eff. 9/1/2007. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. 9/1/1997.