Texas Finance Code - Section 66.108. Plan Of Operation Of Association After Order Of Temporary Conservatorship
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Texas Lawyer > Finance Code > Texas Finance Code - Section 66.108. Plan Of Operation Of Association After Order Of Temporary Conservatorship
§ 66.108. PLAN OF OPERATION OF ASSOCIATION AFTER ORDER OF
TEMPORARY CONSERVATORSHIP. (a) Before or during a hearing under
Section 66.107 on a temporary supervisory order placing an
association under the control of a conservator, the board of the
association may present to the commissioner a plan to continue the
operation of the association in a manner that will correct or
eliminate the grounds on which the order is based.
(b) If the commissioner approves the plan or a modification
of the plan, the commissioner shall vacate the order placing the
association under conservatorship, conditioned on the
implementation and diligent prosecution of the plan.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.
Section: 66.101 66.102 66.103 66.104 66.105 66.106 66.107 66.108 66.109 66.110 66.111 66.151 66.152 66.153 66.154
Last modified: August 10, 2007
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