Texas Finance Code - Section 66.104. Intervention Relating To Examination Of Affairs
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Texas Lawyer > Finance Code > Texas Finance Code - Section 66.104. Intervention Relating To Examination Of Affairs
§ 66.104. INTERVENTION RELATING TO EXAMINATION OF
AFFAIRS. (a) The commissioner may intervene in the affairs of an
association if a person who participates in the affairs of the
association or a subsidiary or savings and loan holding company of
the association:
(1) refuses or is about to refuse to submit to
interrogation under oath by the commissioner or the commissioner's
agent with respect to the association's affairs; or
(2) materially alters, conceals, removes, or
falsifies or is about to materially alter, conceal, remove, or
falsify a book or record of the association or a subsidiary of the
association.
(b) The commissioner may intervene in the affairs of an
association if the association:
(1) fails to maintain books and records from which the
true financial condition of the association or the state of the
association's affairs can be determined; or
(2) refuses to direct a person having possession of
the books, papers, records, or accounts of the association or the
association's subsidiary to permit the commissioner or the
commissioner's authorized representative to inspect or examine
those documents or accounts.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.
Section: 66.051 66.052 66.053 66.054 66.101 66.102 66.103 66.104 66.105 66.106 66.107 66.108 66.109 66.110 66.111
Last modified: August 10, 2007
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