Tex. Finance Code § 126.204
This is the official text of Tex. Finance Code § 126.204, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 126.204. ACTION PENDING INJUNCTION HEARING.
Official statutory text
(a) The court, without notice or hearing, may restrain the commissioner from liquidating the credit union's assets until after a hearing on the suit is held.
(b) If the court restrains the commissioner, the court shall instruct the commissioner to hold the credit union's assets in the commissioner's possession and control until disposition of the suit.
(c) With court approval, the commissioner may take any necessary or proper action to prevent loss or depreciation in the value of the assets.
(b) If the court restrains the commissioner, the court shall instruct the commissioner to hold the credit union's assets in the commissioner's possession and control until disposition of the suit.
(c) With court approval, the commissioner may take any necessary or proper action to prevent loss or depreciation in the value of the assets.
Status: in_force · Read it on the official government site
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