Texas Finance Code - Section 36.224. Disposition And Maintenance Of Records
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Texas Lawyer > Finance Code > Texas Finance Code - Section 36.224. Disposition And Maintenance Of Records
§ 36.224. DISPOSITION AND MAINTENANCE OF RECORDS. (a) On
approval by the court, the receiver may dispose of records of the
bank in liquidation that are obsolete and unnecessary to the
continued administration of the receivership proceeding.
(b) The receiver may devise a method for the effective,
efficient, and economical maintenance of the records of the bank
and of the receiver's office. The method may include maintaining
those records on any medium approved by the records management
division of the Texas State Library.
(c) To maintain the records of the liquidated bank after the
closing of the receivership proceeding, the receiver may reserve
assets of an estate, deposit them in an account, and use them for
maintenance, storage, and disposal of records in closed
receivership estates.
(d) Records of a liquidated bank are not government records
for any purpose, including Chapter 552, Government Code, but shall
be preserved and disposed of as if they were records of the
department under Chapter 441, Government Code. Those records are
confidential as provided by:
(1) Subchapter D, Chapter 31;
(2) Section 59.006; and
(3) rules adopted under this subtitle
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. Amended
by Acts 2001, 77th Leg., ch. 1420, § 6.103(d), eff. Sept. 1,
2001.
Section: 36.217 36.218 36.219 36.220 36.221 36.222 36.223 36.224 36.225 36.226 36.227 36.301 36.302 36.303 36.304
Last modified: August 10, 2007
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