Sec. 126.451. BOARD RESOLUTION. Unless the commissioner has issued a liquidation order, the board may adopt a resolution recommending voluntary dissolution of the credit union and directing submission of the question of liquidation to the members of the credit union.
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 J. Voluntary Liquidation
Section 126.451. Board Resolution
Section 126.452. Notification to Commissioner of Proposed Liquidation
Section 126.453. Notice of Meeting to Liquidate
Section 126.454. Credit Union Operations Before and After Vote
Section 126.455. Vote on Voluntary Liquidation
Section 126.456. Notice to Commissioner of Affirmative Vote to Liquidate
Section 126.457. Appointment of Liquidating Agent
Section 126.458. Application of Law to Credit Union in Voluntary Liquidation