Tex. Finance Code § 96.156
This is the official text of Tex. Finance Code § 96.156, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 96.156. LIMITING ORDER DURING CONSERVATORSHIP.
Official statutory text
(a) During a conservatorship, the commissioner by order may impose limitations on withdrawals from deposit accounts if the commissioner determines that the interests of deposit account holders and creditors of the savings bank are best protected by the limitations.
(b) An order under this section:
(1) must detail the limitations imposed;
(2) must contain a reasonably detailed statement of the facts on which the order is based; and
(3) becomes effective when served on the conservator.
(b) An order under this section:
(1) must detail the limitations imposed;
(2) must contain a reasonably detailed statement of the facts on which the order is based; and
(3) becomes effective when served on the conservator.
Status: in_force · Read it on the official government site
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