Texas § 126.304 LIQUIDATION DIVIDENDS.

Texas Statutes

§ 126.304 — LIQUIDATION DIVIDENDS.

Texas § 126.304

Code FIFinance Code

This text of Texas § 126.304 (LIQUIDATION DIVIDENDS.) 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. § 126.304 (2026).

Text

Sec. 126.304. LIQUIDATION DIVIDENDS.

(a)The liquidating agent from time to time shall make a ratable liquidation dividend on claims that have been:

(1)proved to the satisfaction of the board or the liquidating agent; or

(2)adjusted by a court.

(b)After the credit union's assets have been liquidated, the liquidating agent shall make further liquidation dividends on claims previously proved or adjusted.

(c)For purposes of making a further liquidation dividend under Subsection (b), the liquidating agent may accept the statement of an amount due a claimant as shown on the credit union's books and records instead of a formal proof of claim filed on the claimant's behalf.

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 126.304. LIQUIDATION DIVIDENDS. (a) The liquidating agent from time to time shall make a ratable liquidation dividend on claims that have been:
(1) proved to the satisfaction of the board or the liquidating agent; or
(2) adjusted by a court.
(b) After the credit union's assets have been liquidated, the liquidating agent shall make further liquidation dividends on claims previously proved or adjusted.
(c) For purposes of making a further liquidation dividend under Subsection (b), the liquidating agent may accept the statement of an amount due a claimant as shown on the credit union's books and records instead of a formal proof of claim filed on the claimant's behalf.