Sec. 96.152. DUTIES OF CONSERVATOR. (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 and control of the books, records, property, assets, liabilities, and business of the savings bank; and
(2) conduct the business and affairs of the savings bank.
(b) The conservator shall:
(1) remove the causes and conditions that made the conservatorship necessary; and
(2) report to the commissioner as required by the commissioner.
(c) The conservator shall preserve, protect, and recover the assets or property of the savings bank, including a claim or cause of action that belongs to or may be asserted by the savings bank. The conservator may deal with that property in the capacity of conservator.
(d) The conservator may file, prosecute, or defend a suit brought by or against the savings bank if the conservator considers it necessary to protect the interested party or property affected by the suit.
(e) A suit filed by the conservator under Subsection (c) must be brought in Travis County.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Section: Previous 96.106 96.107 96.108 96.109 96.110 96.111 96.151 96.152 96.153 96.154 96.155 96.156 96.157 96.158 96.159 NextLast modified: September 28, 2016