Sec. 126.106. FAILURE TO APPEAL OR APPEAR. If the board does not appeal the conservatorship order or fails to appear at the hearing provided for by Section 126.105, the credit union is presumed to have consented to the commissioner's disposition action, and the commissioner may dispose of the conservatorship matter as the commissioner considers appropriate.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 19 (S.B. 244), Sec. 22, eff. September 1, 2013.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Chapter 126 - Credit Union Supervision and Regulation
Subchapter C. Conservatorship Order
Section 126.101. Conservatorship Order; Appointment of Conservator
Section 126.102. Service of Order
Section 126.103. Effect of Order
Section 126.105. Appeal of Order; Hearing
Section 126.106. Failure to Appeal or Appear