Texas Statutes
Subchapter G. Claims Relating to Credit Union in Liquidation
Section 126.303. Priority of Claims

Sec. 126.303. PRIORITY OF CLAIMS. The liquidating agent shall use the credit union's assets to pay, in the following order:
(1) secured creditors to the extent of the value of their collateral;
(2) liquidation expenses, including a surety bond if required;
(3) depositors;
(4) general creditors, including secured creditors to the extent that their claims exceed the value of their collateral; and
(5) distributions to members in proportion to the shares held by each member.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

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