Sec. 126.305. PAYMENT OF CLAIMS IN "NO PUBLICATION" LIQUIDATION. (a) In a "no publication" liquidation, the liquidating agent shall determine from all sources available, and within the limits of the credit union's available money, the amounts due to creditors and members.
(b) Not earlier than the 61st day after the date on which the liquidating agent is appointed, the liquidating agent shall distribute the credit union's money to creditors and members ratably and as their interests appear.
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 G. Claims Relating to Credit Union in Liquidation
Section 126.301. Claims Against Credit Union
Section 126.302. Notice to Creditors and Members
Section 126.303. Priority of Claims
Section 126.304. Liquidation Dividends
Section 126.305. Payment of Claims in "No Publication" Liquidation