Tex. Finance Code § 122.154
This is the official text of Tex. Finance Code § 122.154, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 122.154. PROPERTY, OBLIGATIONS, AND LIABILITIES OF MERGED OR CONSOLIDATED CREDIT UNION.
Official statutory text
After a merger or consolidation is effected:
(1) the property of the merged or consolidated credit union vests in the surviving credit union without an instrument of transfer or endorsement; and
(2) the obligations and liabilities of the merged or consolidated credit union are assumed by the surviving credit union.
(1) the property of the merged or consolidated credit union vests in the surviving credit union without an instrument of transfer or endorsement; and
(2) the obligations and liabilities of the merged or consolidated credit union are assumed by the surviving credit union.
Status: in_force · Read it on the official government site
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