Sec. 96.156. LIMITING ORDER DURING CONSERVATORSHIP. (a) During a conservatorship, the commissioner by order may impose limitations on withdrawals from deposit accounts if the commissioner determines that the interests of deposit account holders and creditors of the savings bank are best protected by the limitations.
(b) An order under this section:
(1) must detail the limitations imposed;
(2) must contain a reasonably detailed statement of the facts on which the order is based; and
(3) becomes effective when served on the conservator.
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
Section 96.151. Placement of Savings Bank Under Conservatorship
Section 96.152. Duties of Conservator
Section 96.153. Term of Conservator
Section 96.154. Transfer of Management of Rehabilitated Savings Bank
Section 96.155. Scope of Authority of Other Persons During Conservatorship
Section 96.156. Limiting Order During Conservatorship
Section 96.157. Service of Limiting Order
Section 96.158. Effect of Limiting Order
Section 96.159. Hearing on Limiting Order; Final Order
Section 96.160. Stay of Limiting Order