Tex. Fin. Code § 122.154

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

Section 122.154 - Property, Obligations, and Liabilities of Merged or Consolidated Credit Union

After a merger or consolidation is effected:

(1) the property of the merged or consolidated credit union vests in the surviving credit union without an instrument of transfer or endorsement; and

(2) the obligations and liabilities of the merged or consolidated credit union are assumed by the surviving credit union.

Tex. Fin. Code § 122.154

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