Sec. 126.251. PERMISSIBLE ACTIVITIES IN LIQUIDATION. (a) A credit union in liquidation continues in existence to discharge debts, collect and distribute assets, and wind up the credit union's business.
(b) The credit union may sue and be sued to enforce debts and obligations until its affairs are fully adjusted.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Chapter 126 - Credit Union Supervision and Regulation
Subchapter F. Administration of Liquidation
Section 126.251. Permissible Activities in Liquidation
Section 126.252. Compensation of Credit Union Employees and Officers
Section 126.253. Liquidating Agent Subject to Commission Control
Section 126.254. Possession, Consolidation, and Disposition of Assets
Section 126.255. Compound Debts
Section 126.256. Court Action by Liquidating Agent
Section 126.257. Repudiation of Burdensome Transactions
Section 126.258. Execution of Documents; Other Necessary Acts