Public-domain · open source
OpenJurist

Tex. Fin. Code § 126.305

PAYMENT OF CLAIMS IN "NO PUBLICATION" 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) In a "no publication" liquidation, the liquidating agent shall determine from all sources available, and within the limits of the credit union's available money, the amounts due to creditors and members.

(b) Not earlier than the 61st day after the date on which the liquidating agent is appointed, the liquidating agent shall distribute the credit union's money to creditors and members ratably and as their interests appear.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.