Sec. 63.010. EFFECT OF CLOSING. (a) A day on which an association or one or more of its operations is closed under Section 63.009 during all or part of its normal business hours is considered to be a legal holiday to the extent the association suspends operations.
(b) An association or a director, officer, or employee of the association does not incur liability or loss of rights from a closing authorized by this subtitle.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Subtitle B - Savings and Loan Associations
Section 63.001. General Corporate Powers
Section 63.002. Enlargement of Powers
Section 63.003. Powers of Federal Association
Section 63.004. Power to Borrow
Section 63.006. Power to Act Under Certain Federal Retirement Plans
Section 63.007. Right to Act to Avoid Loss
Section 63.008. Closing Place of Business