During the conservatorship, a person who participates in the affairs of the association shall act according to the conservator's instructions and may exercise only the authority that the conservator expressly grants.
Tex. Fin. Code § 66.155
SCOPE OF AUTHORITY OF OTHER PERSONS DURING CONSERVATORSHIP
Known as the Texas Savings and Loan Act
The act spans §§ 61–89 (217 sections).
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.