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Texas Finance Code - FIN § 273.210. Dissolution

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

(a) The corporation may be dissolved on:

(1) approval of the commissioner;

(2) unanimous approval of the board;  and

(3) approval of two-thirds of the member associations.

(b) The corporation may be dissolved if member associations are required to contribute to any fund similar to the corporation's primary account, other than a fund in which member associations pay premiums to the Federal Deposit Insurance Corporation for insurance of accounts.

(c) The commissioner and the board shall establish procedures for dissolution.

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Cite this article: FindLaw.com - Texas Finance Code - FIN § 273.210. Dissolution - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-273-210/

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