Public-domain · open source
OpenJurist

Tex. Fin. Code § 66.101

INTERVENTION FOR VIOLATIONS AND UNSAFE AND UNSOUND PRACTICES

Known as the Texas Savings and Loan Act

The act spans §§ 61–89 (217 sections).

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff

The commissioner may intervene in the affairs of an association if the association or a person who participates in the affairs of the association or a subsidiary of the association:

(1) engages in or is about to engage in an unsafe and unsound practice in conducting the affairs of the association; or

(2) violates or is about to violate:

(A) the articles of incorporation or bylaws of the association;

(B) a law or supervisory order applicable to the association; or

(C) a condition that the commissioner or the finance commission has imposed on the association by written order or agreement.

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