Texas Finance Code - Section 66.316. Closing Of Liquidation; Order And Liability
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Texas Lawyer > Finance Code > Texas Finance Code - Section 66.316. Closing Of Liquidation; Order And Liability
§ 66.316. CLOSING OF LIQUIDATION; ORDER AND
LIABILITY. (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 commissioner issues the order, the
commissioner and the liquidating agent are discharged from any
further duty or liability in connection with the administration of
the association'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.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.
Section: 66.309 66.310 66.311 66.312 66.313 66.314 66.315 66.316 66.317 66.351 66.352 66.353 66.354 66.355 66.356
Last modified: August 10, 2007
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