Tex. Finance Code § 35.104
This is the official text of Tex. Finance Code § 35.104, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 35.104. POST-HEARING ORDER.
Official statutory text
(a) If after the hearing the banking commissioner finds that the bank has been rehabilitated, that its hazardous condition has been remedied, that irreparable harm is no longer threatened, or that the bank should otherwise be released from the order, the banking commissioner shall release the bank from the order, subject to conditions the banking commissioner from the evidence believes are warranted to preserve the safety and soundness of the bank.
(b) If after the hearing the banking commissioner finds that the bank has failed to comply with the lawful requirements of the banking commissioner, has not been rehabilitated, is insolvent, or otherwise continues in hazardous condition, the banking commissioner by order shall:
(1) appoint or reappoint a supervisor under Section 35.101;
(2) appoint or reappoint a conservator under Section 35.102; or
(3) take other appropriate action authorized by law.
(c) An order issued under Subsection (b) is immediately final for purposes of appeal. The order may be appealed as provided by Sections 31.202 and 31.204.
(b) If after the hearing the banking commissioner finds that the bank has failed to comply with the lawful requirements of the banking commissioner, has not been rehabilitated, is insolvent, or otherwise continues in hazardous condition, the banking commissioner by order shall:
(1) appoint or reappoint a supervisor under Section 35.101;
(2) appoint or reappoint a conservator under Section 35.102; or
(3) take other appropriate action authorized by law.
(c) An order issued under Subsection (b) is immediately final for purposes of appeal. The order may be appealed as provided by Sections 31.202 and 31.204.
Status: in_force · Read it on the official government site
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