Texas § 126.303 PRIORITY OF CLAIMS.

Texas Statutes

§ 126.303 — PRIORITY OF CLAIMS.

Texas § 126.303

Code FIFinance Code

This text of Texas § 126.303 (PRIORITY OF CLAIMS.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Finance Code Code Ann. § 126.303 (2026).

Text

Sec. 126.303. PRIORITY OF CLAIMS. The liquidating agent shall use the credit union's assets to pay, in the following order:

(1)secured creditors to the extent of the value of their collateral;

(2)liquidation expenses, including a surety bond if required;

(3)depositors;

(4)general creditors, including secured creditors to the extent that their claims exceed the value of their collateral; and

(5)distributions to members in proportion to the shares held by each member.

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Sec. 126.303. PRIORITY OF CLAIMS. The liquidating agent shall use the credit union's assets to pay, in the following order:
(1) secured creditors to the extent of the value of their collateral;
(2) liquidation expenses, including a surety bond if required;
(3) depositors;
(4) general creditors, including secured creditors to the extent that their claims exceed the value of their collateral; and
(5) distributions to members in proportion to the shares held by each member.