Sec. 96.108. PLAN OF OPERATION OF SAVINGS BANK AFTER ORDER OF TEMPORARY CONSERVATORSHIP. (a) Before or during a hearing under Section 96.107 on a temporary supervisory order placing a savings bank under the control of a conservator, the board of the savings bank may present to the commissioner a plan to continue the operation of the savings bank in a manner that will correct or eliminate the grounds for the order.
(b) If the commissioner approves the plan or a modification of the plan, the commissioner shall vacate the order and place the savings bank under conservatorship, conditioned on the implementation and diligent prosecution of the plan.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Chapter 96 - Supervision and Regulation
Subchapter C. Supervisory Intervention
Section 96.101. Intervention for Violations and Unsafe and Unsound Practices
Section 96.102. Intervention for Filing Inappropriate Information
Section 96.103. Intervention for Activity Resulting in Actual or Potential Financial Loss
Section 96.104. Intervention Relating to Examination of Affairs
Section 96.105. Temporary Supervisory Order
Section 96.106. Service of Temporary Supervisory Order
Section 96.107. Hearing on Temporary Supervisory Order; Final Order
Section 96.108. Plan of Operation of Savings Bank After Order of Temporary Conservatorship
Section 96.109. Enforcement of Supervisory Order
Section 96.110. Stay of Supervisory Order
Section 96.111. Disclosure of Information in Supervisory Order; Confidentiality