Texas § 66.309 PAYMENT OF FINAL DIVIDEND.

Texas Statutes

§ 66.309 — PAYMENT OF FINAL DIVIDEND.

Texas § 66.309

Code FIFinance Code

This text of Texas § 66.309 (PAYMENT OF FINAL DIVIDEND.) 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. § 66.309 (2026).

Text

Sec. 66.309. PAYMENT OF FINAL DIVIDEND.

(a)The liquidating agent may not pay a final dividend before the first day of the 19th month after the date notice is first published under Section 66.304 .

(b)The liquidating agent shall declare and pay a final dividend after:

(1)the period provided by Subsection (a) expires; and

(2)the liquidating agent liquidates each asset of the association capable of being liquidated or receives sufficient money from the liquidation to:

(A)pay the costs of the liquidation;

(B)pay all claims that have been presented and established; and

(C)leave money available to pay all nonclaiming depositors and creditors of the association.

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Sec. 66.309. PAYMENT OF FINAL DIVIDEND. (a) The liquidating agent may not pay a final dividend before the first day of the 19th month after the date notice is first published under Section 66.304 .
(b) The liquidating agent shall declare and pay a final dividend after:
(1) the period provided by Subsection (a) expires; and
(2) the liquidating agent liquidates each asset of the association capable of being liquidated or receives sufficient money from the liquidation to:
(A) pay the costs of the liquidation;
(B) pay all claims that have been presented and established; and
(C) leave money available to pay all nonclaiming depositors and creditors of the association.