reglab/housing_qa huggingface dataset:
TX Fin Code § 126.054 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 126 - Credit Union Supervision and Regulation|Subchapter B. Examinations|Section 126.054. Report of Examination

Sec. 126.054.  REPORT OF EXAMINATION.  (a)  An examiner shall report the results of an examination, including a general statement of the credit union's affairs, on a form prescribed by the commissioner and approved by the commission.(b)  The department shall send a copy of the report to the board not later than the 30th day after the examination date.(c)  The report of examination is confidential.  The commissioner may provide a copy of the report to other parties as described in Section 126.002(c).|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 157, Sec. 14, eff. Sept. 1, 1999.|
TX Fin Code § 126.055 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 126 - Credit Union Supervision and Regulation|Subchapter B. Examinations|Section 126.055. Fee

Sec. 126.055.  FEE.  The commission may establish and a credit union shall pay a fee based on the cost of performing an examination of the credit union.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 1999, 76th Leg., ch. 157, Sec. 15, eff. Sept. 1, 1999.|
TX Fin Code § 126.101 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 126 - Credit Union Supervision and Regulation|Subchapter C. Conservatorship Order|Section 126.101. Conservatorship Order; Appointment of Conservator

Sec. 126.101.  CONSERVATORSHIP ORDER;  APPOINTMENT OF CONSERVATOR.  (a)  The commissioner may immediately issue a conservatorship order and appoint a conservator to manage a credit union's affairs if:(1)  the commissioner, in performing the duties under this subtitle, finds that:(A)  the credit union is insolvent or in imminent danger of insolvency;  or(B)  the credit union or an employee, officer, or director of a credit union, including an honorary or advisory director has:(i)  violated this subtitle, a rule adopted under this subtitle, or another law that applies to credit unions;(ii)  violated or neglected a final order of the commissioner or commission;(iii)  refused to submit to examination under oath;(iv)  refused to permit the commissioner or the commissioner's representative to examine the credit union's records and affairs, including books, papers, and accounts;(v)  conducted the credit union's business in an unsafe, unauthorized, or unlawful manner;  or(vi)  failed or refused to authorize and direct another person to permit the commissioner or the commissioner's representative to examine the credit union's records in the other person's custody or control, including books, papers, and accounts, following the commissioner's request for the granting of that authority and direction;  and(2)  the commissioner determines that the finding under Subdivision (1) is sufficiently severe to require immediate affirmative action to prevent further dissipation of the credit union's assets.(b)  The order must clearly state the grounds for conservatorship.(c)  The board may:(1)  agree in writing to a conservatorship order; and(2)  waive its right to appeal the order under Section 126.105.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 19 (S.B. 244), Sec. 19, eff. September 1, 2013.|
TX Fin Code § 126.102 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 126 - Credit Union Supervision and Regulation|Subchapter C. Conservatorship Order|Section 126.102. Service of Order

Sec. 126.102.  SERVICE OF ORDER.  (a)  A conservatorship order must be served personally to an officer or director of the credit union by the commissioner, the deputy commissioner, or another person authorized by the commissioner.(b)  Service may be by mail if an officer or director is not available for service on the date personal service of the order is attempted.(c)  Service by mail  must be by certified or registered mail, must be addressed to the credit union at the address shown for its principal office by department records and to the home address of the chairman of the board, and is complete on deposit of the order in a postpaid, properly addressed wrapper, in a post office or official depository under the care and custody of the United States Postal Service.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 19 (S.B. 244), Sec. 20, eff. September 1, 2013.|
TX Fin Code § 126.103 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 126 - Credit Union Supervision and Regulation|Subchapter C. Conservatorship Order|Section 126.103. Effect of Order

Sec. 126.103.  EFFECT OF ORDER.  Following service of a conservatorship order:(1)  the commissioner shall take possession and control of the credit union's books, records, property, assets, and business;  and(2)  the credit union shall cease all operations except those authorized by the commissioner and conducted under the commissioner's supervision.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 126.105 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 126 - Credit Union Supervision and Regulation|Subchapter C. Conservatorship Order|Section 126.105. Appeal of Order; Hearing

Sec. 126.105.  APPEAL OF ORDER;  HEARING.  (a)  Unless the board waives its right to appeal under Section 126.101(c), the board may file a written appeal of the conservatorship order with the commissioner not later than the 10th business day after the date the order is served as provided by Section 126.102.  The appeal must include a certified copy of the board resolution and must state whether the board requests a hearing.(b)  If the board requests a hearing, the commissioner shall promptly request from the State Office of Administrative Hearings a hearing date that is not earlier than the 11th day nor later than the 30th day after the date on which the commissioner receives the appeal.(c)  The commissioner shall give the credit union notice of the date, time, and place of the hearing.(d)  The filing of an appeal does not suspend the order, and the order remains in effect until the commission's final disposition of the appeal.(e)  Not later than the 45th day after a proposal for decision is received from the State Office of Administrative Hearings, the commission shall meet to consider the proposal.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 19 (S.B. 244), Sec. 21, eff. September 1, 2013.|
TX Fin Code § 126.106 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 126 - Credit Union Supervision and Regulation|Subchapter C. Conservatorship Order|Section 126.106. Failure to Appeal or Appear

Sec. 126.106.  FAILURE TO APPEAL OR APPEAR.   If the board does not appeal the conservatorship order or fails to appear at the hearing provided for by Section 126.105, the credit union is presumed to have consented to the commissioner's disposition action, and the commissioner may dispose of the conservatorship matter as the commissioner considers appropriate.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 19 (S.B. 244), Sec. 22, eff. September 1, 2013.|
TX Fin Code § 126.107 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 126 - Credit Union Supervision and Regulation|Subchapter C. Conservatorship Order|Section 126.107. Extension of Date and Time for Hearing

Sec. 126.107.  EXTENSION OF DATE AND TIME FOR HEARING.  The parties may agree to extend the date and time of the hearing.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 126.108 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 126 - Credit Union Supervision and Regulation|Subchapter C. Conservatorship Order|Section 126.108. Confidentiality; Disclosure

Sec. 126.108.  CONFIDENTIALITY;  DISCLOSURE.  A conservatorship order and a copy of a notice, correspondence, transcript, pleading, or other document relating to the order are confidential and may be disclosed only in a related legal proceeding or as otherwise authorized by law.  The commissioner may release to the public information regarding the existence of an order if the commissioner concludes that release of the information would enhance effective enforcement of the order.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2003, 78th Leg., ch. 533, Sec. 48, eff. Sept. 1, 2003.|
TX Fin Code § 126.151 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 126 - Credit Union Supervision and Regulation|Subchapter D. Administration of Conservatorship|Section 126.151. Conservator Subject to Commission Control

Sec. 126.151.  CONSERVATOR SUBJECT TO COMMISSION CONTROL.  A conservator shall exercise the powers authorized under Sections 126.152-126.154 subject to commission rules and under the commissioner's supervision.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 126.152 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 126 - Credit Union Supervision and Regulation|Subchapter D. Administration of Conservatorship|Section 126.152. General Powers of Conservator

Sec. 126.152.  GENERAL POWERS OF CONSERVATOR.  The conservator may:(1)  take possession and control of the books, records, property, assets, and business of the credit union;(2)  conduct the business and affairs of the credit union;(3)  sell or assign assets to the conservator;  and(4)  perform any other action as necessary in connection with the conservatorship.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 126.153 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 126 - Credit Union Supervision and Regulation|Subchapter D. Administration of Conservatorship|Section 126.153. Powers Relating to Claims

Sec. 126.153.  POWERS RELATING TO CLAIMS.  The conservator may:(1)  determine the existence and amount of claims;(2)  allow proved claims of security, preference, or priority;(3)  disallow unproved claims of security, preference, or priority;  and(4)  settle or release a claim in favor of or against the credit union.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 126.154 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 126 - Credit Union Supervision and Regulation|Subchapter D. Administration of Conservatorship|Section 126.154. Power to Repudiate Burdensome Transaction

Sec. 126.154.  POWER TO REPUDIATE BURDENSOME TRANSACTION.  The conservator may repudiate a contract or unexpired lease the conservator considers burdensome to the credit union.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 126.155 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 126 - Credit Union Supervision and Regulation|Subchapter D. Administration of Conservatorship|Section 126.155. Power to Protect, Preserve, and Recover Property

Sec. 126.155.  POWER TO PROTECT, PRESERVE, AND RECOVER PROPERTY.  (a)  The conservator may take measures necessary to preserve, protect, and recover the assets or property of the credit union, including filing a lawsuit against any person.(b)  An asset or property of the credit union includes a claim or cause of action that belongs to or that may be asserted by the credit union.(c)  The conservator may deal with that property in the capacity of conservator.(d)  The conservator may file, prosecute, or defend a suit brought by or against the credit union if the conservator considers it necessary to protect the interested party or property affected by the suit.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 126.156 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 126 - Credit Union Supervision and Regulation|Subchapter D. Administration of Conservatorship|Section 126.156. Duties of Conservator

Sec. 126.156.  DUTIES OF CONSERVATOR.  The conservator shall:(1)  take actions as directed by the commissioner to remove the causes and conditions that made the conservatorship necessary;  and(2)  report to the commissioner from time to time during the conservatorship as required by the commissioner.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 126.157 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 126 - Credit Union Supervision and Regulation|Subchapter D. Administration of Conservatorship|Section 126.157. Term of Conservator

Sec. 126.157.  TERM OF CONSERVATOR.  The conservator shall serve until the purposes of the conservatorship are accomplished.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 126.158 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 126 - Credit Union Supervision and Regulation|Subchapter D. Administration of Conservatorship|Section 126.158. Transfer of Management of Rehabilitated Credit Union

Sec. 126.158.  TRANSFER OF MANAGEMENT OF REHABILITATED CREDIT UNION.  If the credit union is rehabilitated, the conservator shall return the management of the credit union to the board under terms that are reasonable and necessary to prevent a recurrence of the conditions that created the need for conservatorship.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 126.159 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 126 - Credit Union Supervision and Regulation|Subchapter D. Administration of Conservatorship|Section 126.159. Cost of Conservatorship

Sec. 126.159.  COST OF CONSERVATORSHIP.  (a)  The commissioner shall determine and approve any reasonable expenses attributable to the service of a conservator, including costs incurred by the department and the compensation and expenses of the conservator and any professional employees appointed to represent or assist the conservator.  The commissioner or an employee of the department may not receive compensation in addition to salary for serving as conservator, but the department may receive reimbursement for the fully allocated personnel cost associated with the service of the commissioner or the employee as conservator.(b)  All approved expenses shall be paid by the credit union. The department has a lien against the assets and money of the credit union to secure payment of approved expenses.  The lien has a higher priority than any other lien against the credit union.(c)  Notwithstanding this subchapter, the credit union may retain attorneys and hire other persons to assist the credit union in contesting or satisfying the requirements of an order of conservatorship.  The commissioner shall authorize the payment of reasonable fees and expenses for the attorneys and other persons as expenses of the conservatorship.(d)  The commissioner may waive or defer collection of assessment or examination fees by the department from the credit union during a period of conservatorship if the waiver or deferral would appear to benefit the prospects for rehabilitation.  As a condition of release from conservatorship, the commissioner may require the rehabilitated credit union to pay or develop a reasonable plan for payment of any deferred fees.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2003, 78th Leg., ch. 533, Sec. 49, eff. Sept. 1, 2003.|
TX Fin Code § 126.160 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 126 - Credit Union Supervision and Regulation|Subchapter D. Administration of Conservatorship|Section 126.160. Jurisdiction and Venue

Sec. 126.160.  JURISDICTION AND VENUE.  (a)  A suit filed against a credit union while the credit union is under conservatorship, or against a person in connection with an action taken or decision made by that person as a conservator of a credit union, must be brought in Travis County regardless of whether the credit union remains under conservatorship.(b)  A suit filed by the conservator under Section 126.155 may be brought in Travis County.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.  Amended by Acts 2003, 78th Leg., ch. 533, Sec. 50, eff. Sept. 1, 2003.|
TX Fin Code § 126.161 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 126 - Credit Union Supervision and Regulation|Subchapter D. Administration of Conservatorship|Section 126.161. Exhaustion of Administrative Remedies

Sec. 126.161.  EXHAUSTION OF ADMINISTRATIVE REMEDIES.  Administrative remedies must be exhausted before a court may:(1)  assert jurisdiction over a claim against the conservator or the credit union;  or(2)  restrain or otherwise affect the exercise of the powers or functions of the conservator.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 126.201 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 126 - Credit Union Supervision and Regulation|Subchapter E. Liquidation Order; Injunction|Section 126.201. Liquidation Order; Appointment of Liquidating Agent

Sec. 126.201.  LIQUIDATION ORDER; APPOINTMENT OF LIQUIDATING AGENT.  (a)  After the commissioner has issued a conservatorship order and provided an opportunity for hearing, the commissioner by liquidation order may appoint a liquidating agent and direct that the credit union be liquidated if:(1)  the board requests issuance of a liquidation order and liquidation of the credit union;(2)  the credit union otherwise consents to the liquidation; or(3)  the commissioner:(A)  finds that the closing of the credit union and the liquidation of the credit union's assets are in the public interest and the best interest of the credit union's members, depositors, and creditors; and(B)  determines that the credit union is not in a condition to continue business and cannot be rehabilitated as provided by this chapter.(b)  If the board consents to the liquidation order and waives the necessity of a conservatorship order, the commissioner may issue a liquidation order without first issuing a conservatorship order.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 19 (S.B. 244), Sec. 23, eff. September 1, 2013.|
TX Fin Code § 126.202 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 126 - Credit Union Supervision and Regulation|Subchapter E. Liquidation Order; Injunction|Section 126.202. Service of Order

Sec. 126.202.  SERVICE OF ORDER.  The commissioner shall serve a liquidation order in the same manner provided for service of a conservatorship order.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 126.203 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 126 - Credit Union Supervision and Regulation|Subchapter E. Liquidation Order; Injunction|Section 126.203. Suit for Injunction

Sec. 126.203.  SUIT FOR INJUNCTION.  (a)  Not later than the fifth day after the date on which the liquidation order is served, a credit union that has not requested or consented to a liquidation order may, if authorized by certified board resolution, sue to enjoin the commissioner from liquidating the credit union.(b)  The suit must be brought in the district court of the county in which the credit union's principal office is located.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 126.204 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 126 - Credit Union Supervision and Regulation|Subchapter E. Liquidation Order; Injunction|Section 126.204. Action Pending Injunction Hearing

Sec. 126.204.  ACTION PENDING INJUNCTION HEARING.  (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.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 126.205 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 126 - Credit Union Supervision and Regulation|Subchapter E. Liquidation Order; Injunction|Section 126.205. Hearing on Injunction; Appeal

Sec. 126.205.  HEARING ON INJUNCTION;  APPEAL.  (a)  The court, as soon as possible, shall hear the suit and shall enter a judgment enjoining or refusing to enjoin the commissioner from liquidating the credit union's assets.(b)  The commissioner, regardless of the judgment entered by the trial court or any supersedeas bond filed, shall retain possession and control of the credit union's assets until final disposition of any appeal of the judgment.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 126.206 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle D - Credit Unions|Chapter 126 - Credit Union Supervision and Regulation|Subchapter E. Liquidation Order; Injunction|Section 126.206. National Credit Union Administration as Liquidating Agent

Sec. 126.206.  NATIONAL CREDIT UNION ADMINISTRATION AS LIQUIDATING AGENT.  (a)  The commissioner may tender a credit union that has been closed for liquidation to the National Credit Union Administration or its successor as liquidating agent if the shares and deposits of the credit union were insured by the National Credit Union Share Insurance Fund or its successor on the date of closing.(b)  After acceptance of tender of the credit union, the National Credit Union Administration or its successor, as liquidating agent of the credit union, shall perform the acts and duties that it considers necessary or desirable and that are permitted or required by federal law or this chapter.  The National Credit Union Administration, as liquidating agent, is not subject to commission control.(c)  If the National Credit Union Share Insurance Fund pays the insured share and deposit liabilities of a credit union that is being liquidated under this subchapter, the National Credit Union Administration is subrogated, to the extent of the payment, to all rights that the owners of the share or deposit accounts have against the credit union.|Added by Acts 2003, 78th Leg., ch. 533, Sec. 51, eff. Sept. 1, 2003.|