Tex. Finance Code § 126.403
This is the official text of Tex. Finance Code § 126.403, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 126.403. WINDING UP OF CREDIT UNION BUSINESS.
Official statutory text
During the three-year period following cancellation of the credit union's certificate of incorporation, the credit union continues to exist and the liquidating agent, or a successor or other person designated by the commissioner, may act on the credit union's behalf to:
(1) pay, satisfy, or discharge an existing liability or obligation;
(2) collect and distribute assets; and
(3) act as required to adjust and wind up the credit union's business and affairs, including suing or being sued in the credit union's corporate name.
(1) pay, satisfy, or discharge an existing liability or obligation;
(2) collect and distribute assets; and
(3) act as required to adjust and wind up the credit union's business and affairs, including suing or being sued in the credit union's corporate name.
Status: in_force · Read it on the official government site
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