Sec. 186.226. RESUMPTION OF BUSINESS. (a) A state trust company closed under Section 186.201 may not be reopened without the approval of the banking commissioner unless a contest of liquidation under Section 186.204 is finally resolved adversely to the banking commissioner and the court authorizes its reopening.
(b) The banking commissioner may place temporary limits on the right of withdrawals by, or payments to, individual clients and creditors of a state trust company reopened under this section, in accordance with applicable law.
(c) As a depositor or creditor of a reopened state trust company, this state or a political subdivision of this state may agree to temporary limits that the banking commissioner places on payments or withdrawals.
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Chapter 186 - Dissolution and Receivership
Subchapter C. Involuntary Dissolution and Liquidation
Section 186.201. Action to Close State Trust Company
Section 186.202. Notice and Effect of Closure; Appointment of Receiver
Section 186.203. Nature and Duration of Receivership
Section 186.204. Contest of Liquidation
Section 186.205. Notice of State Trust Company Closing
Section 186.207. Receiver's Title and Priority
Section 186.210. Pending Lawsuit
Section 186.212. Obtaining Record or Other Property in Possession of Other Person
Section 186.213. Injunction in Aid of Liquidation
Section 186.215. Executory Contract; Oral Agreement
Section 186.217. Employees of Receiver
Section 186.218. Disposal of Property; Settling of Claim
Section 186.219. Court Order; Notice and Hearing
Section 186.220. Receiver's Reports; Expenses
Section 186.221. Court-Ordered Audit
Section 186.222. Safe Deposits and Other Bailments
Section 186.223. Fiduciary Activities
Section 186.224. Disposition and Maintenance of Records
Section 186.225. Records Admitted
Section 186.226. Resumption of Business
Section 186.227. Assets Discovered After Close of Receivership