PERMISSIBLE ACTIVITIES IN LIQUIDATION
Known as the Texas Credit Union Act
The act spans §§ 121.001 to 149.002 (219 sections).
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff
(a) A credit union in liquidation continues in existence to discharge debts, collect and distribute assets, and wind up the credit union's business.
(b) The credit union may sue and be sued to enforce debts and obligations until its affairs are fully adjusted.
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.