Sec. 273.404. PURCHASE OF INTEREST IN ASSETS. (a) The corporation shall purchase from a member association under conservatorship an interest in the association's assets at a price agreed to by the conservator and the board, regardless of whether the price exceeds the market value of the purchased assets.
(b) A purchase must be made on the terms the board determines. The commissioner must approve the terms of the purchase in writing.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses
Chapter 273 - Savings and Loan Supplemental Fund Act
Subchapter E. Assistance Provided to Member Associations Under Conservatorship
Section 273.401. General Assistance
Section 273.402. Assistance in Transferring or Disposing of Property
Section 273.403. Advance of Money
Section 273.404. Purchase of Interest in Assets
Section 273.405. Procedure for Merger, Sale of Control Of, or Sale of Assets