Sec. 36.111. CLOSURE BY BANKING COMMISSIONER FOR INVOLUNTARY DISSOLUTION AND LIQUIDATION. The banking commissioner may close a state bank for involuntary dissolution and liquidation under this chapter if the banking commissioner determines that:
(1) the voluntary liquidation is:
(A) being conducted in an improper or illegal manner; or
(B) not in the best interests of the bank's depositors and creditors; or
(2) the bank is insolvent or imminently insolvent.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Chapter 36 - Dissolution and Receivership
Subchapter B. Voluntary Dissolution
Section 36.101. Initiating Voluntary Dissolution
Section 36.102. Filing Resolutions With Banking Commissioner
Section 36.103. Banking Commissioner Investigation and Consent
Section 36.104. Notice of Pending Dissolution
Section 36.105. Safe Deposits and Other Bailments
Section 36.106. Offices to Remain Open
Section 36.107. Fiduciary Activities
Section 36.108. Final Liquidation
Section 36.109. Application of Law to Bank in Dissolution
Section 36.110. Authorization of Deviation From Procedures
Section 36.111. Closure by Banking Commissioner for Involuntary Dissolution and Liquidation