Texas Statutes
Title 3 - Financial Institutions and Businesses
Subtitle D - Credit Unions

Section 122.006. Decision on Application to Incorporate; Issuance of Certificate - Sec. 122.006. DECISION ON APPLICATION TO INCORPORATE; ISSUANCE OF CERTIFICATE....

Section 122.007. Appeal to Commission - Sec. 122.007. APPEAL TO COMMISSION. (a) The commission by rule...

Section 122.008. Effect of Issuance of Certificate of Incorporation - Sec. 122.008. EFFECT OF ISSUANCE OF CERTIFICATE OF INCORPORATION. (a)...

Section 122.009. Requirements for Commencing Business - Sec. 122.009. REQUIREMENTS FOR COMMENCING BUSINESS. (a) A credit union...

Section 122.010. Deadline for Commencing Business - Sec. 122.010. DEADLINE FOR COMMENCING BUSINESS. (a) A credit union...

Section 122.011. Amendment of Articles of Incorporation or Bylaws - Sec. 122.011. AMENDMENT OF ARTICLES OF INCORPORATION OR BYLAWS. (a)...

Section 122.012. Place of Business - Sec. 122.012. PLACE OF BUSINESS. (a) A credit union shall...

Section 122.013. Foreign Credit Unions - Sec. 122.013. FOREIGN CREDIT UNIONS. (a) A foreign credit union...

Section 122.0131. Temporary Foreign Credit Union Office - Sec. 122.0131. TEMPORARY FOREIGN CREDIT UNION OFFICE. If a state...

Section 122.014. Underserved-Area Credit Union - Sec. 122.014. UNDERSERVED-AREA CREDIT UNION. (a) In this section, "secondary...

Subchapter B. Administration

Section 122.051. Membership - Sec. 122.051. MEMBERSHIP. (a) A person may be a member...

Section 122.052. Meetings of Members; Voting - Sec. 122.052. MEETINGS OF MEMBERS; VOTING. (a) Members of a...

Section 122.053. Board of Directors; Terms and Duties - Sec. 122.053. BOARD OF DIRECTORS; TERMS AND DUTIES. (a) A...

Section 122.054. Qualification of Directors - Sec. 122.054. QUALIFICATION OF DIRECTORS. (a) The commission by rule...

Section 122.055. Vacancies; Removal - Sec. 122.055. VACANCIES; REMOVAL. (a) The office of a director...

Section 122.056. Honorary or Advisory Directors - Sec. 122.056. HONORARY OR ADVISORY DIRECTORS. (a) The board may...

Section 122.057. Officers; Executive Committee - Sec. 122.057. OFFICERS; EXECUTIVE COMMITTEE. (a) At the annual organizational...

Section 122.058. Chief Executive Officer - Sec. 122.058. CHIEF EXECUTIVE OFFICER. (a) The board may employ,...

Section 122.059. Delegation of Management and Loan Approval Authority - Sec. 122.059. DELEGATION OF MANAGEMENT AND LOAN APPROVAL AUTHORITY. (a)...

Section 122.060. Certificate of Election - Sec. 122.060. CERTIFICATE OF ELECTION. (a) A credit union shall...

Section 122.061. Conflicts of Interest - Sec. 122.061. CONFLICTS OF INTEREST. (a) While serving as a...

Section 122.062. Compensation - Sec. 122.062. COMPENSATION. A person may not receive compensation for...

Section 122.063. Bond - Sec. 122.063. BOND. The board shall purchase from a surety...

Section 122.064. Indemnification - Sec. 122.064. INDEMNIFICATION. A credit union may elect to indemnify...

Subchapter C. Operations and Finances

Section 122.101. Call Reports - Sec. 122.101. CALL REPORTS. (a) A credit union shall prepare...

Section 122.102. Financial Reporting; Audits - Sec. 122.102. FINANCIAL REPORTING; AUDITS. (a) A credit union shall...

Section 122.103. Equity Capital - Sec. 122.103. EQUITY CAPITAL. A credit union's equity capital consists...

Section 122.104. Net Worth Reserve Allocations - Sec. 122.104. NET WORTH RESERVE ALLOCATIONS. (a) The commission by...

Section 122.105. Membership Share Reduction - Sec. 122.105. MEMBERSHIP SHARE REDUCTION. A credit union may order...

Section 122.106. Exemption From Certain Taxes - Sec. 122.106. EXEMPTION FROM CERTAIN TAXES. (a) Except as provided...

Section 122.107. Notice of Availability of Certain Documents - Sec. 122.107. NOTICE OF AVAILABILITY OF CERTAIN DOCUMENTS. (a) A...

Subchapter D. Merger or Consolidation

Section 122.151. Authority to Merge or Consolidate - Sec. 122.151. AUTHORITY TO MERGE OR CONSOLIDATE. (a) A credit...

Section 122.152. Application to Merge or Consolidate - Sec. 122.152. APPLICATION TO MERGE OR CONSOLIDATE. (a) After agreement...

Section 122.153. Decision by Commissioner; Appeal - Sec. 122.153. DECISION BY COMMISSIONER; APPEAL. (a) Subject to Subsection...

Section 122.1531. Considerations in Determination - Sec. 122.1531. CONSIDERATIONS IN DETERMINATION. In determining whether to approve...

Section 122.154. Property, Obligations, and Liabilities of Merged or Consolidated Credit Union - Sec. 122.154. PROPERTY, OBLIGATIONS, AND LIABILITIES OF MERGED OR CONSOLIDATED...

Section 122.155. Construction of Subchapter - Sec. 122.155. CONSTRUCTION OF SUBCHAPTER. This subchapter shall be construed,...

Section 122.156. Rules to Address Certain Procedures - Sec. 122.156. RULES TO ADDRESS CERTAIN PROCEDURES. The rules adopted...

Subchapter E. Conversion

Section 122.201. Conversion of State Credit Union to Federal Credit Union - Sec. 122.201. CONVERSION OF STATE CREDIT UNION TO FEDERAL CREDIT...

Section 122.202. Conversion of State Credit Union to Out-of-State Credit Union - Sec. 122.202. CONVERSION OF STATE CREDIT UNION TO OUT-OF-STATE CREDIT...

Section 122.203. Conversion of Federal or Out-of-State Credit Union to State Credit Union - Sec. 122.203. CONVERSION OF FEDERAL OR OUT-OF-STATE CREDIT UNION TO...

Subchapter F. Misconduct and Enforcement

Section 122.251. Defamation - Sec. 122.251. DEFAMATION. (a) A person commits an offense if...

Section 122.252. Consideration for Loan, Investment, or Purchase - Sec. 122.252. CONSIDERATION FOR LOAN, INVESTMENT, OR PURCHASE. (a) A...

Section 122.253. Loan to Nonmember - Sec. 122.253. LOAN TO NONMEMBER. (a) A person commits an...

Section 122.254. False Statements or Documents; Destruction of Records - Sec. 122.254. FALSE STATEMENTS OR DOCUMENTS; DESTRUCTION OF RECORDS. (a)...

Section 122.255. Determination of Misconduct - Sec. 122.255. DETERMINATION OF MISCONDUCT. The commissioner may determine that...

Section 122.256. Determination Letter; Board Meeting - Sec. 122.256. DETERMINATION LETTER; BOARD MEETING. (a) If the commissioner...

Section 122.257. Cease and Desist Order for Credit Unions - Sec. 122.257. CEASE AND DESIST ORDER FOR CREDIT UNIONS. (a)...

Section 122.2575. Cease and Desist Order for Other Persons - Sec. 122.2575. CEASE AND DESIST ORDER FOR OTHER PERSONS. (a)...

Section 122.258. Removal Order - Sec. 122.258. REMOVAL ORDER. (a) The commissioner by order may...

Section 122.259. Hearing on Appeal of Proposed Order - Sec. 122.259. HEARING ON APPEAL OF PROPOSED ORDER. (a) If...

Section 122.260. Administrative Penalty; Injunction - Sec. 122.260. ADMINISTRATIVE PENALTY; INJUNCTION. (a) If a credit union...

Section 122.261. Confidentiality - Sec. 122.261. CONFIDENTIALITY. (a) A determination letter, a cease and...

Chapter 123 - General Powers

Subchapter A. General Powers

Section 123.001. General Powers - Sec. 123.001. GENERAL POWERS. A credit union may exercise any...

Section 123.002. Incidental Powers - Sec. 123.002. INCIDENTAL POWERS. A credit union may exercise any...

Section 123.003. Enlargement of Powers - Sec. 123.003. ENLARGEMENT OF POWERS. (a) A credit union may...

Subchapter B. Operational Powers

Section 123.101. Contracts - Sec. 123.101. CONTRACTS. A credit union may make contracts. Acts...

Section 123.102. Power to Sue and Defend - Sec. 123.102. POWER TO SUE AND DEFEND. A credit union...

Section 123.103. Purchase and Sale of Property - Sec. 123.103. PURCHASE AND SALE OF PROPERTY. Subject to commission...

Section 123.104. Membership in Other Organization; Operation as Central Credit Union - Sec. 123.104. MEMBERSHIP IN OTHER ORGANIZATION; OPERATION AS CENTRAL CREDIT...

Section 123.105. Fees - Sec. 123.105. FEES. (a) A credit union may collect a...

Section 123.106. Change of Location - Sec. 123.106. CHANGE OF LOCATION. (a) A credit union changing...

Section 123.107. Insurance for Members - Sec. 123.107. INSURANCE FOR MEMBERS. A credit union may purchase...

Section 123.108. Donations - Sec. 123.108. DONATIONS. A credit union may donate to a...

Section 123.109. Seal - Sec. 123.109. SEAL. A credit union may adopt and use...

Section 123.110. Records - Sec. 123.110. RECORDS. (a) A credit union may: (1) copy...

Section 123.111. Right to Act to Mitigate or Avoid Loss - Sec. 123.111. RIGHT TO ACT TO MITIGATE OR AVOID LOSS....

Subchapter C. Financial Powers

Section 123.201. Power to Borrow or Lend - Sec. 123.201. POWER TO BORROW OR LEND. (a) A credit...

Section 123.202. Receipt, Transfer, and Payment of Money - Sec. 123.202. RECEIPT, TRANSFER, AND PAYMENT OF MONEY. A credit...

Section 123.203. Acceptance of Money for Deposit From Another Entity - Sec. 123.203. ACCEPTANCE OF MONEY FOR DEPOSIT FROM ANOTHER ENTITY....

Section 123.204. Action as Agent or Depository of United States or Other Governmental Entity - Sec. 123.204. ACTION AS AGENT OR DEPOSITORY OF UNITED STATES...

Section 123.205. Investments and Securities - Sec. 123.205. INVESTMENTS AND SECURITIES. (a) In accordance with commission...

Section 123.206. Action as Fiscal or Transfer Agent; Transfer of Certain Instruments; Signatures - Sec. 123.206. ACTION AS FISCAL OR TRANSFER AGENT; TRANSFER OF...

Section 123.207. Fiduciary Powers - Sec. 123.207. FIDUCIARY POWERS. A credit union may: (1) act,...

Section 123.208. Dividends and Interest - Sec. 123.208. DIVIDENDS AND INTEREST. (a) A credit union may:...

Section 123.209. Transfer System - Sec. 123.209. TRANSFER SYSTEM. A credit union may establish, operate,...

Section 123.210. Sale of Certain Instruments or Securities; Fee - Sec. 123.210. SALE OF CERTAIN INSTRUMENTS OR SECURITIES; FEE. A...

Section 123.211. Certificates of Indebtedness - Sec. 123.211. CERTIFICATES OF INDEBTEDNESS. The commission by rule may...

Section 123.212. Check and Money Transfer Services - Sec. 123.212. CHECK AND MONEY TRANSFER SERVICES. A credit union...

Chapter 124 - Loans and Investments

Subchapter A. General Provisions Concerning Loans to Members

Section 124.001. Authorization - Sec. 124.001. AUTHORIZATION. A credit union may make a loan...

Section 124.002. Limitations on Interest Rates - Sec. 124.002. LIMITATIONS ON INTEREST RATES. The interest rate on...

Section 124.003. Limitations on Loans - Sec. 124.003. LIMITATIONS ON LOANS. A credit union may not...

Section 124.004. Written Instrument Required - Sec. 124.004. WRITTEN INSTRUMENT REQUIRED. A credit union loan must...

Section 124.005. Applicability of Other Law - Sec. 124.005. APPLICABILITY OF OTHER LAW. Subtitle B, Title 4,...

Subchapter B. Open-End Credit Plan or Line of Credit

Section 124.051. Open-End Credit Plan - Sec. 124.051. OPEN-END CREDIT PLAN. A credit union may enter...

Section 124.052. Line of Credit - Sec. 124.052. LINE OF CREDIT. A credit union may approve...

Section 124.053. Additional Loan Application Not Required - Sec. 124.053. ADDITIONAL LOAN APPLICATION NOT REQUIRED. An additional loan...

Subchapter C. Loan Expenses

Section 124.101. Borrower Payment of Loan Expenses - Sec. 124.101. BORROWER PAYMENT OF LOAN EXPENSES. A credit union...

Section 124.102. Collection of Loan Expenses - Sec. 124.102. COLLECTION OF LOAN EXPENSES. A payment authorized by...

Section 124.103. Character of Expense or Fee - Sec. 124.103. CHARACTER OF EXPENSE OR FEE. An expense or...

Subchapter D. Loan Payments

Section 124.151. Prepayment Privilege - Sec. 124.151. PREPAYMENT PRIVILEGE. A loan may be prepaid in...

Section 124.152. Conditions for Prepayment of Loan Secured by Real Property - Sec. 124.152. CONDITIONS FOR PREPAYMENT OF LOAN SECURED BY REAL...

Section 124.153. Penalty for Late Payment - Sec. 124.153. PENALTY FOR LATE PAYMENT. (a) A credit union,...

Subchapter E. Loans to Directors, Employees, and Credit Committee Members

Section 124.201. Authorization - Sec. 124.201. AUTHORIZATION. Only if done in accordance with limitations...

Section 124.202. Conditions of Loans - Sec. 124.202. CONDITIONS OF LOANS. A loan or extension of...

Section 124.203. Authorization to Act as Comaker, Guarantor, or Endorser - Sec. 124.203. AUTHORIZATION TO ACT AS COMAKER, GUARANTOR, OR ENDORSER....

Section 124.204. Prior Approval Required - Sec. 124.204. PRIOR APPROVAL REQUIRED. The board must give its...

Subchapter F. Illegal Loans

Section 124.251. Illegality of Loan Not a Defense - Sec. 124.251. ILLEGALITY OF LOAN NOT A DEFENSE. The illegality...

Section 124.252. Illegality of Loan Not a Bar to Enforcement or Collection - Sec. 124.252. ILLEGALITY OF LOAN NOT A BAR TO ENFORCEMENT...

Subchapter G. Loan Programs

Section 124.301. Participation Loans - Sec. 124.301. PARTICIPATION LOANS. A credit union may market and...

Section 124.302. Government Loan Programs - Sec. 124.302. GOVERNMENT LOAN PROGRAMS. A credit union may participate...

Subchapter H. Investment of Money

Section 124.351. Permitted Investments - Sec. 124.351. PERMITTED INVESTMENTS. (a) A credit union may invest...

Section 124.352. Limitations on Investments - Sec. 124.352. LIMITATIONS ON INVESTMENTS. (a) An investment under Section...

Chapter 125 - Credit Union Accounts and Services

Subchapter A. General Provisions

Section 125.001. Definition - Sec. 125.001. DEFINITION. In this chapter, "multiple-party account" has the...

Section 125.002. Share Account - Sec. 125.002. SHARE ACCOUNT. (a) Shares and membership shares shall...

Section 125.003. Deposit Accounts - Sec. 125.003. DEPOSIT ACCOUNTS. A deposit account consists of payments...

Section 125.004. Construction With Other Laws - Sec. 125.004. CONSTRUCTION WITH OTHER LAWS. This chapter may not...

Subchapter B. Multiple-Party Accounts

Section 125.101. Form of Account - Sec. 125.101. FORM OF ACCOUNT. (a) A member of a...

Section 125.102. Powers of Account Holders - Sec. 125.102. POWERS OF ACCOUNT HOLDERS. (a) A party to...

Section 125.103. Powers of Members Relating to Account - Sec. 125.103. POWERS OF MEMBERS RELATING TO ACCOUNT. Subject to...

Section 125.104. Ownership Interest - Sec. 125.104. OWNERSHIP INTEREST. (a) The parties to a multiple-party...

Section 125.105. Discharge of Liability on Payment - Sec. 125.105. DISCHARGE OF LIABILITY ON PAYMENT. Payment of all...

Section 125.106. Division of Account on Death - Sec. 125.106. DIVISION OF ACCOUNT ON DEATH. (a) Unless otherwise...

Section 125.107. Setoff of Account - Sec. 125.107. SETOFF OF ACCOUNT. Without qualifying another statutory right...

Subchapter C. Minor Accounts

Section 125.201. Powers of Credit Union Relating to Account - Sec. 125.201. POWERS OF CREDIT UNION RELATING TO ACCOUNT. A...

Section 125.202. Voting; Office-Holding - Sec. 125.202. VOTING; OFFICE-HOLDING. (a) If permitted by the credit...

Section 125.203. Discharge of Liability on Payment; Effect on Minor of Required Action - Sec. 125.203. DISCHARGE OF LIABILITY ON PAYMENT; EFFECT ON MINOR...

Subchapter D. Trust Account

Section 125.301. Form of Account - Sec. 125.301. FORM OF ACCOUNT. (a) A credit union may...

Section 125.302. Loans to Nonmember Trustee - Sec. 125.302. LOANS TO NONMEMBER TRUSTEE. Subject to limitations imposed...

Section 125.303. Beneficiary Fees - Sec. 125.303. BENEFICIARY FEES. A beneficiary who is not a...

Section 125.304. Limitations Placed on Beneficiary - Sec. 125.304. LIMITATIONS PLACED ON BENEFICIARY. A beneficiary who is...

Section 125.305. Account Transaction Inquiries - Sec. 125.305. ACCOUNT TRANSACTION INQUIRIES. The credit union is not...

Section 125.306. Discharge of Liability on Payment - Sec. 125.306. DISCHARGE OF LIABILITY ON PAYMENT. Payment of all...

Section 125.307. Termination of Account - Sec. 125.307. TERMINATION OF ACCOUNT. When a trust is terminated,...

Section 125.308. Effect of Death of Trustee on Account - Sec. 125.308. EFFECT OF DEATH OF TRUSTEE ON ACCOUNT. (a)...

Section 125.309. Trust Account With Limited Documentation - Sec. 125.309. TRUST ACCOUNT WITH LIMITED DOCUMENTATION. (a) For a...

Subchapter E. Third-Party Claims and Other Rights Relating to Accounts

Section 125.401. Third-Party Claim - Sec. 125.401. THIRD-PARTY CLAIM. (a) In this section: (1) "Credit...

Section 125.402. Disclosure of Records of Member; Confidentiality - Sec. 125.402. DISCLOSURE OF RECORDS OF MEMBER; CONFIDENTIALITY. (a) A...

Section 125.403. Recovery of Document Production Expenses From Third Party - Sec. 125.403. RECOVERY OF DOCUMENT PRODUCTION EXPENSES FROM THIRD PARTY....

Section 125.404. Liens and Setoffs - Sec. 125.404. LIENS AND SETOFFS. (a) To the extent of...

Section 125.405. Account Withdrawals - Sec. 125.405. ACCOUNT WITHDRAWALS. (a) A credit union may require...

Subchapter F. Safe Deposit Boxes

Section 125.501. Rental of Safe Deposit Box - Sec. 125.501. RENTAL OF SAFE DEPOSIT BOX. A credit union...

Section 125.502. Relationship Between Credit Union and Box Holder - Sec. 125.502. RELATIONSHIP BETWEEN CREDIT UNION AND BOX HOLDER. (a)...

Section 125.503. Access by More Than One Person - Sec. 125.503. ACCESS BY MORE THAN ONE PERSON. (a) In...

Section 125.504. Relocation of Safe Deposit Box; Inventory of Contents - Sec. 125.504. RELOCATION OF SAFE DEPOSIT BOX; INVENTORY OF CONTENTS....

Section 125.505. Notice of Box Relocation - Sec. 125.505. NOTICE OF BOX RELOCATION. (a) A credit union...

Section 125.506. Cost of Notice as Box Rental - Sec. 125.506. COST OF NOTICE AS BOX RENTAL. The credit...

Section 125.507. Emergency Relocation of Safe Deposit Box - Sec. 125.507. EMERGENCY RELOCATION OF SAFE DEPOSIT BOX. (a) A...

Section 125.508. Key Imprinting - Sec. 125.508. KEY IMPRINTING. (a) A credit union that rents...

Section 125.509. Liability for Access to or Removal of Contents - Sec. 125.509. LIABILITY FOR ACCESS TO OR REMOVAL OF CONTENTS....

Section 125.510. Delinquent Rents - Sec. 125.510. DELINQUENT RENTS. (a) If the rental of a...

Section 125.511. Auction of Contents - Sec. 125.511. AUCTION OF CONTENTS. (a) If the rental, cost,...

Chapter 126 - Credit Union Supervision and Regulation

Subchapter A. General Provisions

Section 126.001. Appointment of Conservator or Liquidating Agent - Sec. 126.001. APPOINTMENT OF CONSERVATOR OR LIQUIDATING AGENT. The commissioner...

Section 126.002. Confidentiality of Information - Sec. 126.002. CONFIDENTIALITY OF INFORMATION. (a) Except as provided by...

Section 126.003. Enforceability of Agreement Made by Credit Union Before Conservatorship or Liquidation - Sec. 126.003. ENFORCEABILITY OF AGREEMENT MADE BY CREDIT UNION BEFORE...

Subchapter B. Examinations

Section 126.051. Examinations - Sec. 126.051. EXAMINATIONS. (a) The department, through examiners it appoints...

Section 126.052. Access to Information - Sec. 126.052. ACCESS TO INFORMATION. An officer, director, agent, or...

Section 126.053. Witnesses; Production of Documents - Sec. 126.053. WITNESSES; PRODUCTION OF DOCUMENTS. (a) In an examination...

Section 126.054. Report of Examination - Sec. 126.054. REPORT OF EXAMINATION. (a) An examiner shall report...

Section 126.055. Fee - Sec. 126.055. FEE. The commission may establish and a credit...

Subchapter C. Conservatorship Order

Section 126.101. Conservatorship Order; Appointment of Conservator - Sec. 126.101. CONSERVATORSHIP ORDER; APPOINTMENT OF CONSERVATOR. (a) The commissioner...

Section 126.102. Service of Order - Sec. 126.102. SERVICE OF ORDER. (a) A conservatorship order must...

Section 126.103. Effect of Order - Sec. 126.103. EFFECT OF ORDER. Following service of a conservatorship...

Section 126.105. Appeal of Order; Hearing - Sec. 126.105. APPEAL OF ORDER; HEARING. (a) Unless the board...

Section 126.106. Failure to Appeal or Appear - Sec. 126.106. FAILURE TO APPEAL OR APPEAR. If the board...

Section 126.107. Extension of Date and Time for Hearing - Sec. 126.107. EXTENSION OF DATE AND TIME FOR HEARING. The...

Section 126.108. Confidentiality; Disclosure - Sec. 126.108. CONFIDENTIALITY; DISCLOSURE. A conservatorship order and a copy...

Subchapter D. Administration of Conservatorship

Section 126.151. Conservator Subject to Commission Control - Sec. 126.151. CONSERVATOR SUBJECT TO COMMISSION CONTROL. A conservator shall...

Section 126.152. General Powers of Conservator - Sec. 126.152. GENERAL POWERS OF CONSERVATOR. The conservator may: (1)...

Section 126.153. Powers Relating to Claims - Sec. 126.153. POWERS RELATING TO CLAIMS. The conservator may: (1)...

Section 126.154. Power to Repudiate Burdensome Transaction - Sec. 126.154. POWER TO REPUDIATE BURDENSOME TRANSACTION. The conservator may...

Section 126.155. Power to Protect, Preserve, and Recover Property - Sec. 126.155. POWER TO PROTECT, PRESERVE, AND RECOVER PROPERTY. (a)...

Section 126.156. Duties of Conservator - Sec. 126.156. DUTIES OF CONSERVATOR. The conservator shall: (1) take...

Section 126.157. Term of Conservator - Sec. 126.157. TERM OF CONSERVATOR. The conservator shall serve until...

Section 126.158. Transfer of Management of Rehabilitated Credit Union - Sec. 126.158. TRANSFER OF MANAGEMENT OF REHABILITATED CREDIT UNION. If...

Section 126.159. Cost of Conservatorship - Sec. 126.159. COST OF CONSERVATORSHIP. (a) The commissioner shall determine...

Section 126.160. Jurisdiction and Venue - Sec. 126.160. JURISDICTION AND VENUE. (a) A suit filed against...

Section 126.161. Exhaustion of Administrative Remedies - Sec. 126.161. EXHAUSTION OF ADMINISTRATIVE REMEDIES. Administrative remedies must be...

Subchapter E. Liquidation Order; Injunction

Section 126.201. Liquidation Order; Appointment of Liquidating Agent - Sec. 126.201. LIQUIDATION ORDER; APPOINTMENT OF LIQUIDATING AGENT. (a) After...

Section 126.202. Service of Order - Sec. 126.202. SERVICE OF ORDER. The commissioner shall serve a...

Section 126.203. Suit for Injunction - Sec. 126.203. SUIT FOR INJUNCTION. (a) Not later than the...

Section 126.204. Action Pending Injunction Hearing - Sec. 126.204. ACTION PENDING INJUNCTION HEARING. (a) The court, without...

Section 126.205. Hearing on Injunction; Appeal - Sec. 126.205. HEARING ON INJUNCTION; APPEAL. (a) The court, as...

Section 126.206. National Credit Union Administration as Liquidating Agent - Sec. 126.206. NATIONAL CREDIT UNION ADMINISTRATION AS LIQUIDATING AGENT. (a)...

Subchapter F. Administration of Liquidation

Section 126.251. Permissible Activities in Liquidation - Sec. 126.251. PERMISSIBLE ACTIVITIES IN LIQUIDATION. (a) A credit union...

Section 126.252. Compensation of Credit Union Employees and Officers - Sec. 126.252. COMPENSATION OF CREDIT UNION EMPLOYEES AND OFFICERS. (a)...

Section 126.253. Liquidating Agent Subject to Commission Control - Sec. 126.253. LIQUIDATING AGENT SUBJECT TO COMMISSION CONTROL. The liquidating...

Section 126.254. Possession, Consolidation, and Disposition of Assets - Sec. 126.254. POSSESSION, CONSOLIDATION, AND DISPOSITION OF ASSETS. The liquidating...

Section 126.255. Compound Debts - Sec. 126.255. COMPOUND DEBTS. The liquidating agent shall compound all...

Section 126.256. Court Action by Liquidating Agent - Sec. 126.256. COURT ACTION BY LIQUIDATING AGENT. The liquidating agent...

Section 126.257. Repudiation of Burdensome Transactions - Sec. 126.257. REPUDIATION OF BURDENSOME TRANSACTIONS. The liquidating agent shall...

Section 126.258. Execution of Documents; Other Necessary Acts - Sec. 126.258. EXECUTION OF DOCUMENTS; OTHER NECESSARY ACTS. The liquidating...

Section 126.259. Jurisdiction and Venue - Sec. 126.259. JURISDICTION AND VENUE. (a) A suit against a...

Section 126.260. Exhaustion of Administrative Remedies - Sec. 126.260. EXHAUSTION OF ADMINISTRATIVE REMEDIES. Except as provided by...

Subchapter G. Claims Relating to Credit Union in Liquidation

Section 126.301. Claims Against Credit Union - Sec. 126.301. CLAIMS AGAINST CREDIT UNION. The liquidating agent shall:...

Section 126.302. Notice to Creditors and Members - Sec. 126.302. NOTICE TO CREDITORS AND MEMBERS. (a) The liquidating...

Section 126.303. Priority of Claims - Sec. 126.303. PRIORITY OF CLAIMS. The liquidating agent shall use...

Section 126.304. Liquidation Dividends - Sec. 126.304. LIQUIDATION DIVIDENDS. (a) The liquidating agent from time...

Section 126.305. Payment of Claims in "No Publication" Liquidation - Sec. 126.305. PAYMENT OF CLAIMS IN "NO PUBLICATION" LIQUIDATION. (a)...

Section 126.306. Barred Claims - Sec. 126.306. BARRED CLAIMS. (a) A claim not filed before...

Subchapter H. Liquidating Agent

Section 126.351. Removal of Liquidating Agent - Sec. 126.351. REMOVAL OF LIQUIDATING AGENT. (a) On finding that...

Section 126.352. Replacement of Liquidating Agent - Sec. 126.352. REPLACEMENT OF LIQUIDATING AGENT. The commissioner shall appoint...

Section 126.353. Conflict of Interest - Sec. 126.353. CONFLICT OF INTEREST. (a) The liquidating agent may...

Section 126.354. Compensation - Sec. 126.354. COMPENSATION. (a) A liquidating agent is entitled to...

Subchapter I. Completion of Liquidation

Section 126.401. Certificate of Liquidation and Distribution - Sec. 126.401. CERTIFICATE OF LIQUIDATION AND DISTRIBUTION. The commissioner shall...

Section 126.402. Cancellation of Certificate of Incorporation - Sec. 126.402. CANCELLATION OF CERTIFICATE OF INCORPORATION. The commissioner, on...

Section 126.403. Winding Up of Credit Union Business - Sec. 126.403. WINDING UP OF CREDIT UNION BUSINESS. During the...

Subchapter J. Voluntary Liquidation

Section 126.451. Board Resolution - Sec. 126.451. BOARD RESOLUTION. Unless the commissioner has issued a...

Section 126.452. Notification to Commissioner of Proposed Liquidation - Sec. 126.452. NOTIFICATION TO COMMISSIONER OF PROPOSED LIQUIDATION. Not later...

Section 126.453. Notice of Meeting to Liquidate - Sec. 126.453. NOTICE OF MEETING TO LIQUIDATE. Notice of the...

Section 126.454. Credit Union Operations Before and After Vote - Sec. 126.454. CREDIT UNION OPERATIONS BEFORE AND AFTER VOTE. Immediately...

Section 126.455. Vote on Voluntary Liquidation - Sec. 126.455. VOTE ON VOLUNTARY LIQUIDATION. At a special meeting...

Section 126.456. Notice to Commissioner of Affirmative Vote to Liquidate - Sec. 126.456. NOTICE TO COMMISSIONER OF AFFIRMATIVE VOTE TO LIQUIDATE....

Section 126.457. Appointment of Liquidating Agent - Sec. 126.457. APPOINTMENT OF LIQUIDATING AGENT. (a) If the members...

Section 126.458. Application of Law to Credit Union in Voluntary Liquidation - Sec. 126.458. APPLICATION OF LAW TO CREDIT UNION IN VOLUNTARY...

Chapter 149 - Miscellaneous Provisions Relating to Credit Unions

Section 149.001. Applicability of Chapters 3 and 4, Business & Commerce Code - Sec. 149.001. APPLICABILITY OF CHAPTERS 3 AND 4, BUSINESS &...

Section 149.002. Exemption From Securities Laws - Sec. 149.002. EXEMPTION FROM SECURITIES LAWS. (a) Except as required...

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Texas Statutes Title 3 - Financial Institutions and Businesses Subtitle D - Credit Unions

Texas Statutes
Title 3 - Financial Institutions and Businesses
Subtitle D - Credit Unions