Tex. Fin. Code § 126.103

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

Section 126.103 - Effect of Order

Following service of a conservatorship order:

(1) the commissioner shall take possession and control of the credit union's books, records, property, assets, and business; and

(2) the credit union shall cease all operations except those authorized by the commissioner and conducted under the commissioner's supervision.

Tex. Fin. Code § 126.103

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