Texas § 96.252 CLOSING OF SAVINGS BANK BY COMMISSIONER'S ORDER.

Texas Statutes

§ 96.252 — CLOSING OF SAVINGS BANK BY COMMISSIONER'S ORDER.

Texas § 96.252

Code FIFinance Code

This text of Texas § 96.252 (CLOSING OF SAVINGS BANK BY COMMISSIONER'S ORDER.) 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. § 96.252 (2026).

Text

Sec. 96.252. CLOSING OF SAVINGS BANK BY COMMISSIONER'S ORDER. The commissioner or the commissioner's representative may close a savings bank if the commissioner determines after an examination that:

(1)the interests of the deposit account holders and creditors of the savings bank are jeopardized because of:

(A)the savings bank's insolvency or imminent insolvency; or

(B)a substantial dissipation of the savings bank's assets or earnings because of a violation of a law or an unsafe or unsound practice; and

(2)it is in the best interests of the deposit account holders and creditors to close the savings bank and liquidate the savings bank's assets.

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Sec. 96.252. CLOSING OF SAVINGS BANK BY COMMISSIONER'S ORDER. The commissioner or the commissioner's representative may close a savings bank if the commissioner determines after an examination that:
(1) the interests of the deposit account holders and creditors of the savings bank are jeopardized because of:
(A) the savings bank's insolvency or imminent insolvency; or
(B) a substantial dissipation of the savings bank's assets or earnings because of a violation of a law or an unsafe or unsound practice; and
(2) it is in the best interests of the deposit account holders and creditors to close the savings bank and liquidate the savings bank's assets.