Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
Section 273.211 - Effect of Dissolution(a) On dissolution, money in the primary account shall be used to redeem all securities issued by the corporation and held by a member association. If money in the primary account is insufficient to redeem the securities, the administrative account may be used.(b) On dissolution, the earnings of the corporation accrue to this state and may not be distributed to any other person. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. 9/1/1997.