Sec. 96.316. 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 closing order, the commissioner and the liquidating agent are discharged from any further duty or liability in connection with the administration of the savings bank'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
Chapter 96 - Supervision and Regulation
Section 96.301. Liquidation of Savings Bank
Section 96.302. Removal or Replacement of Liquidating Agent
Section 96.303. Duties of Liquidating Agent
Section 96.305. Presentation of Claim
Section 96.306. Priority of Claims
Section 96.307. Action on Claim
Section 96.308. Hearing on Claim; Appeal of Adverse Determination of Claim
Section 96.309. Payment of Final Dividend
Section 96.310. Deposit of Money by Liquidating Agent
Section 96.311. Payment of Nonclaiming Deposit Account Holders and Creditors
Section 96.312. Cost of Liquidation
Section 96.314. Continued Existence of Savings Bank Following Liquidation
Section 96.315. Special Liquidating Agent