Texas Finance Code - Section 66.253. Notice Of Closing
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§ 66.253. NOTICE OF CLOSING. (a) Immediately after an
association is closed by its board or by the commissioner under this
subchapter, the commissioner shall post at the main entrance of the
association an appropriate notice of the closure. After notice is
posted, a judgment lien, attachment lien, or other voluntary lien
may not attach to an asset of the association, and a director or an
officer or agent of the association may not:
(1) act for the association; or
(2) convey, transfer, assign, pledge, mortgage, or
encumber an asset of the association.
(b) An attempt to take an action prohibited under Subsection
(a)(2) after the notice is posted or in anticipation of posting the
notice, including preferring in any manner a depositor or creditor
of the association, is void.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.
Section: 66.156 66.157 66.201 66.202 66.203 66.251 66.252 66.253 66.254 66.255 66.301 66.302 66.303 66.304 66.305
Last modified: August 10, 2007
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