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Tex. Fin. Code § 96.316

CLOSING OF LIQUIDATION; ORDER AND LIABILITY

Known as the Texas Savings Bank Act

The act spans §§ 91–119 (255 sections).

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

(a) The liquidating agent shall certify the completion of the liquidation to the commissioner, who shall then issue an order closing the liquidation.

(b) After the closing order, the commissioner and the liquidating agent are discharged from any further duty or liability in connection with the administration of the savings bank's affairs.

(c) After the closing order, a person does not have a claim, suit, or action against the commissioner or the liquidating agent, individually or in an official capacity, except a suit to recover an unclaimed deposit as provided by this subchapter.

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