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Texas Finance Code - FIN § 96.156. Limiting Order During Conservatorship

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

(a) During a conservatorship, the commissioner by order may impose limitations on withdrawals from deposit accounts if the commissioner determines that the interests of deposit account holders and creditors of the savings bank are best protected by the limitations.

(b) An order under this section:

(1) must detail the limitations imposed;

(2) must contain a reasonably detailed statement of the facts on which the order is based;  and

(3) becomes effective when served on the conservator.

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Cite this article: FindLaw.com - Texas Finance Code - FIN § 96.156. Limiting Order During Conservatorship - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-96-156/

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