Sec. 66.316. CLOSING OF LIQUIDATION; ORDER AND LIABILITY. (a) The liquidating agent shall certify the completion of the liquidation to the commissioner, who shall then issue an order closing the liquidation.
(b) After the commissioner issues the order, the commissioner and the liquidating agent are discharged from any further duty or liability in connection with the administration of the association's affairs.
(c) After the closing order, a person does not have a claim, suit, or action against the commissioner or the liquidating agent, individually or in an official capacity, except a suit to recover an unclaimed deposit as provided by this subchapter.
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
Chapter 66 - Enforcement and Regulation
Section 66.301. Liquidation of Association
Section 66.302. Removal or Replacement of Liquidating Agent
Section 66.303. Duties of Liquidating Agent
Section 66.305. Presentation of Claim
Section 66.306. Priority of Claims
Section 66.307. Action on Claim
Section 66.308. Hearing on Claim; Appeal of Adverse Determination of Claim
Section 66.309. Payment of Final Dividend
Section 66.310. Deposit of Money by Liquidating Agent
Section 66.311. Payment of Nonclaiming Depositors and Creditors
Section 66.312. Cost of Liquidation
Section 66.314. Continued Existence of Association Following Liquidation
Section 66.315. Special Liquidating Agent