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Texas Finance Code - Chapter 66 Enforcement And RegulationLegal Research Home > Texas Lawyer > Finance Code > Texas Finance Code - Chapter 66 Enforcement And Regulation The Savings and Loan Department and the commissioner shall regulate associations and subsidiaries of associations operating under this subtitle. Acts 1997, 75th Leg., ch. 1008, ... The finance commission may adopt rules relating to: (1) the minimum amounts of capital stock and paid-in surplus required for incorporation as a capital stock ... (a) The commissioner shall periodically examine the affairs of each association, including the subsidiaries and transactions of the association and the dealings of any savings ... (a) The commissioner at the association's cost shall conduct an additional examination or audit or devote extraordinary attention to an association's affairs if the commissioner ... The commissioner, a deputy commissioner, or an examiner or auditor of the commissioner shall be given free access to: (1) the books and records of ... (a) In an examination conducted under this subchapter, the commissioner, the deputy commissioner, or an examiner or auditor of the commissioner may: (1) subpoena witnesses; ... The commissioner may intervene in the affairs of an association if the association or a person who participates in the affairs of the association or ... The commissioner may intervene in the affairs of an association if the association or a person who participates in the affairs of the association or ... (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 ... (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 ... (a) If the commissioner has reasonable cause to believe that one or more of the grounds for intervention under Section 66.101 exists or is imminent, ... (a) A temporary supervisory order may be served by personal delivery by an agent of the commissioner or by certified or registered mail. (b) Service ... (a) A temporary supervisory order issued under Section 66.105 becomes final and unappealable on the 16th day after the date on which the order is ... (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 ... (a) The commissioner, after giving notice, may assess against an association or another person designated in a final supervisory order who violates the order, or ... (a) A temporary supervisory order may not be stayed pending a hearing unless the commissioner orders a stay. (b) A final supervisory order may not ... (a) Except as provided by Subsection (b) or (c), information contained in a temporary or final supervisory order or a notice, correspondence, or other record ... If the commissioner does not approve a plan to continue the operation of an association under Section 66.108, the conservator shall continue to manage the ... (a) The conservator and any deputy or assistant conservator appointed by the commissioner, under the direction and supervision of the commissioner, shall: (1) take possession ... The conservator shall serve until the purposes of the conservatorship are accomplished. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ... If the association is rehabilitated, the conservator shall return the management of the association to the association's board under terms that are reasonable and necessary ... During the conservatorship, a person who participates in the affairs of the association shall act according to the conservator's instructions and may exercise only the ... (a) The commissioner shall determine the cost of the conservatorship. (b) The cost of conservatorship shall be paid from the association's assets. Acts 1997, 75th ... A suit filed against an association or its conservator while a conservatorship order is in effect must be brought in Travis County. Acts 1997, 75th ... (a) An association's board may consent to the commissioner's placement of the association under supervisory control. (b) The commissioner may appoint the supervisor and one ... A supervisor or deputy supervisor has the powers of a conservator under Subchapter D and any other power established by agreement between the commissioner and ... The cost of the supervisory control of an association shall be set by the commissioner and paid by the association. Acts 1997, 75th Leg., ch. ... An association's board, by resolution and with the commissioner's consent, may close the association and tender to the commissioner for disposition as provided by this ... The commissioner or the commissioner's representative may close an association if the commissioner determines after an examination that: (1) the interests of the depositors and ... (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 ... (a) On closing an association under this subchapter, the commissioner may: (1) liquidate the association as provided by Subchapter E; or (2) tender the association's ... (a) Not later than the second day, excluding legal holidays, after the date on which the commissioner closes an association under Section 66.252, the association, ... (a) If the commissioner doubts that an association subject to a conservatorship order can be rehabilitated, the commissioner may set a hearing to determine whether ... (a) The commissioner, with or without cause, may remove a liquidating agent and appoint another agent. (b) If a liquidating agent resigns, dies, or otherwise ... (a) Under the commissioner's supervision, the liquidating agent shall: (1) receive and take possession of the books, records, assets, and property of the association; (2) ... (a) Under the commissioner's supervision, the liquidating agent shall give notice to creditors and savings account holders directing them to present and prove their claims ... (a) To be entitled to priority, each person asserting a claim against an association being liquidated under this subchapter must present the claim in writing ... On liquidation of an association, claims for payment have the following priority: (1) obligations incurred by the commissioner or the liquidating agent, fees and assessments ... (a) Within three months after the date of receipt of a claim against an association being liquidated, the liquidating agent shall approve or reject the ... (a) A claimant may appeal an adverse determination of a claim by filing suit on the claim in a district court of Travis County within ... (a) The liquidating agent may not pay a final dividend before the first day of the 19th month after the date notice is first published ... The liquidating agent shall deposit all unclaimed dividends and all money available for nonclaiming depositors and creditors in one or more state-chartered financial institutions for ... (a) Except as provided by Subsection (b), the liquidating agent, on demand, shall pay a depositor or creditor of the association who does not make ... (a) The commissioner shall determine the cost of the liquidation. (b) The cost of liquidation shall be paid from the association's assets as the commissioner ... After paying a final dividend as provided by Section 66.309 and performing any necessary or proper action in liquidating the association's assets for the benefit ... For the purposes of adjusting and settling claims not disposed of during the liquidation, the association continues to exist until the third anniversary of the ... At the completion of the liquidation, the commissioner may appoint a special liquidating agent if necessary to adjust and settle undisposed claims. Acts 1997, 75th ... (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 procedures for a contested case hearing under Chapter 2001, Government Code, apply to a hearing set by the commissioner under this subchapter. Acts 1997, ... (a) After a final liquidation order has been issued under Subchapter F or G for an association the deposits of which are not insured by ... On appointment, the receiver shall: (1) immediately take charge of the affairs of the association, subject to the direction of the court; and (2) conduct ... The receiver is entitled to compensation as determined by the court. Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. ... (a) On appointment of the receiver, the commissioner and liquidating agent are discharged from further duty in connection with the administration or regulation of the ... (a) A book, record, document, or paper of the association received and held by the receiver during the receivership proceeding or a certified copy of ... (a) The property and assets of the association are in the custody of the court from the date the receivership begins. (b) The receiver and ... (a) The commissioner may bring a derivative suit on behalf of an association on an unpursued cause of action if: (1) the commissioner determines that ... 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, ... If a promise or agreement to lend money is not otherwise unenforceable under Chapter 26, Business & Commerce Code, and if the promise or agreement ... Last modified: August 10, 2007 |