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Texas Finance Code - FIN § 186.111. Closure by Banking Commissioner for Involuntary Dissolution and Liquidation

Current as of January 01, 2024 | Updated by Findlaw Staff

The banking commissioner may close the state trust company for involuntary dissolution and liquidation under this chapter if the banking commissioner determines that:

(1) the voluntary liquidation is:

(A) being conducted in an improper or illegal manner; or

(B) not in the best interests of the state trust company's clients and creditors; or

(2) the state trust company is insolvent or imminently insolvent.

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Cite this article: FindLaw.com - Texas Finance Code - FIN § 186.111. Closure by Banking Commissioner for Involuntary Dissolution and Liquidation - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-186-111/

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