Texas Finance Code - Section 66.402. Payment Of Insured Deposit Liabilities By Fdic
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§ 66.402. PAYMENT OF INSURED DEPOSIT LIABILITIES BY
FDIC. If the Federal Deposit Insurance Corporation pays the
insured deposit liabilities of an association that has been closed
or is being liquidated under this chapter, regardless of whether
the Federal Deposit Insurance Corporation has become receiver or
liquidating agent, the Federal Deposit Insurance Corporation is
subrogated, to the extent of the payment, to all rights that the
owners of the savings accounts or deposits have against the
association.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.
Section: 66.351 66.352 66.353 66.354 66.355 66.356 66.401 66.402 66.403 67.001 67.002 67.003 67.004 67.101 67.201
Last modified: August 10, 2007
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