reglab/housing_qa huggingface dataset:
TX Fin Code § 96.301 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 96 - Supervision and Regulation|Subchapter G. Liquidation|Section 96.301. Liquidation of Savings Bank

Sec. 96.301.  LIQUIDATION OF SAVINGS BANK.  (a)  If the commissioner doubts that a savings bank subject to a conservatorship order can be rehabilitated, the commissioner may close the savings bank as provided by Subchapter F  or set a hearing to determine whether the savings bank should be liquidated.  Not later than the 10th day before the hearing date, notice of the hearing shall be given by certified mail to the officers and directors of the savings bank and by publication in a newspaper of general circulation in the county in which the principal office of the savings bank is located.(b)  If the commissioner closes a savings bank or finds after a hearing under Subsection (a) that the savings bank cannot be rehabilitated and that it is in the public interest and the best interests of the deposit account holders and creditors of the savings bank that the bank be closed and its assets liquidated, the commissioner by liquidation order may appoint a liquidating agent and dissolve the savings bank.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 96.302 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 96 - Supervision and Regulation|Subchapter G. Liquidation|Section 96.302. Removal or Replacement of Liquidating Agent

Sec. 96.302.  REMOVAL OR REPLACEMENT OF LIQUIDATING AGENT.  (a)  The commissioner, with or without cause, may remove a liquidating agent and appoint another agent.(b)  If a liquidating agent resigns, dies, or otherwise becomes unable to serve, the commissioner shall promptly appoint another agent.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 96.303 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 96 - Supervision and Regulation|Subchapter G. Liquidation|Section 96.303. Duties of Liquidating Agent

Sec. 96.303.  DUTIES OF LIQUIDATING AGENT.  (a)  Under the commissioner's supervision, the liquidating agent shall:(1)  receive and take possession of the books, records, assets, and property of the savings bank;(2)  sell, enforce collection of, and liquidate the assets and property of the savings bank;(3)  sue in the name of the liquidating agent or the savings bank;(4)  defend an action brought against the liquidating agent or the savings bank;(5)  receive, examine, and pass on a claim brought against the savings bank, including a claim of a depositor;(6)  make distributions to and pay creditors, deposit account holders, shareholders, and members of the savings bank as their interests appear;(7)  from time to time make a ratable liquidation dividend on claims that have been proved to the satisfaction of the liquidating agent or that have been adjusted by a court;(8)  after the savings bank's assets have been liquidated, make further liquidation dividends on claims previously proved or adjusted;  and(9)  execute documents and perform any other action that the liquidating agent considers necessary or desirable for the liquidation.(b)  For purposes of making a further liquidation dividend under Subsections (a)(7) and (8), the liquidating agent may accept the statement of an amount due a claimant as shown on the savings bank's books and records instead of a formal proof of claim on the claimant's behalf.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 96.304 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 96 - Supervision and Regulation|Subchapter G. Liquidation|Section 96.304. Notice

Sec. 96.304.  NOTICE.  (a)  Under the commissioner's supervision, the liquidating agent shall give notice to creditors and deposit account holders directing them to present and prove their claims and requiring them to file a written proof of claim at the address designated in the notice.(b)  The notice shall be published once a week for three successive weeks in a newspaper of general circulation in each county in which the savings bank maintained an office or branch to transact business on the date the savings bank ceased unrestricted operations.(c)  Not later than the 30th day after the date on which the notice is first published, the liquidating agent shall mail a similar notice to each depositor and creditor named in the books of the savings bank at the address shown in those books.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 96.305 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 96 - Supervision and Regulation|Subchapter G. Liquidation|Section 96.305. Presentation of Claim

Sec. 96.305.  PRESENTATION OF CLAIM.  (a)  To be entitled to priority, each person asserting a claim against a savings bank being liquidated under this subchapter must present the claim in writing to the commissioner or the liquidating agent, at the address designated in the notice under Section 96.304 on or before the last day of the 18th month after the date the notice is first published.(b)  The claim must:(1)  contain a statement of the facts supporting the claim;(2)  set out any right of payment priority or other specific right asserted by the claimant;  and(3)  be signed and sworn to by the claimant.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 96.306 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 96 - Supervision and Regulation|Subchapter G. Liquidation|Section 96.306. Priority of Claims

Sec. 96.306.  PRIORITY OF CLAIMS.  When a savings bank is liquidated, claims for payment have the same priority that similar claims have when a federal savings bank is liquidated under federal law.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 96.307 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 96 - Supervision and Regulation|Subchapter G. Liquidation|Section 96.307. Action on Claim

Sec. 96.307.  ACTION ON CLAIM.  (a)  Within three months after the date of receipt of a claim against a savings bank being liquidated, the liquidating agent shall approve or reject the claim in whole or in part unless that period is extended by written agreement with the claimant.(b)  A liquidating agent who approves the claim or a part of the claim shall classify the claim and enter the claim and the action taken in a claim register.(c)  A liquidating agent who rejects the claim in whole or in part, or who denies a right of payment priority or any other right asserted by the claimant, shall notify the claimant of the action by registered mail.(d)  An approved claim presented after the declaration and payment of any dividend and on or before the last day of the 18th month after the date on which notice is first published under Section 96.304 qualifies to participate in dividends previously paid before an additional dividend is declared.  A claim that is presented after that period does not qualify to participate in a dividend or distribution of assets until all approved claims presented during the period are fully paid.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 96.308 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 96 - Supervision and Regulation|Subchapter G. Liquidation|Section 96.308. Hearing on Claim; Appeal of Adverse Determination of Claim

Sec. 96.308.  HEARING ON CLAIM;  APPEAL OF ADVERSE DETERMINATION OF CLAIM.  (a)  A claimant may appeal an adverse determination of a claim by filing suit on the claim in a district court of Travis County within three months after the date on which notice is mailed under Section 96.307.(b)  The determination on a claim becomes final on the expiration of the period prescribed by Subsection (a) if suit is not filed in accordance with that subsection.(c)  Review by a district court under Subsection (a) is by trial de novo.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 96.309 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 96 - Supervision and Regulation|Subchapter G. Liquidation|Section 96.309. Payment of Final Dividend

Sec. 96.309.  PAYMENT OF FINAL DIVIDEND.  (a)  The liquidating agent may not pay a final dividend before the first day of the 19th month after the date notice is first published under Section 96.304.(b)  The liquidating agent shall declare and pay a final dividend after:(1)  the prohibitory period prescribed by Subsection (a) expires;  and(2)  the liquidating agent liquidates each asset of the savings bank capable of being liquidated or receives sufficient money from the liquidation to:(A)  pay the costs of liquidation;(B)  pay all claims that have been presented and approved;  and(C)  leave money available to pay all nonclaiming deposit account holders and creditors of the savings bank.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 96.310 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 96 - Supervision and Regulation|Subchapter G. Liquidation|Section 96.310. Deposit of Money by Liquidating Agent

Sec. 96.310.  DEPOSIT OF MONEY BY LIQUIDATING AGENT.  The liquidating agent shall deposit all unclaimed dividends and all money available for nonclaiming deposit account holders and creditors in one or more state-chartered financial institutions for the benefit of the deposit account holders and creditors entitled to the dividends or money.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 96.311 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 96 - Supervision and Regulation|Subchapter G. Liquidation|Section 96.311. Payment of Nonclaiming Deposit Account Holders and Creditors

Sec. 96.311.  PAYMENT OF NONCLAIMING DEPOSIT ACCOUNT HOLDERS AND CREDITORS.  (a)  Except as provided by Subsection (b), the liquidating agent, on demand, shall pay a deposit account holder or creditor of the savings bank who does not make a claim under Section 96.305 any amount held by the liquidating agent for the benefit of the deposit account holder or creditor.(b)  If the liquidating agent has a doubt about the identity of a claimant or the claimant's right to the money, the liquidating agent shall reject the claim and notify the claimant by registered mail.(c)  The liquidating agent's rejection of a claim becomes final if the claimant does not file suit against the liquidating agent to recover money in a district court of Travis County within three months after the date on which the notice is mailed.(d)  A suit under Subsection (c) is an action in rem.  Judgment is binding on all persons interested in the money.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 96.312 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 96 - Supervision and Regulation|Subchapter G. Liquidation|Section 96.312. Cost of Liquidation

Sec. 96.312.  COST OF LIQUIDATION.  (a)  The commissioner shall determine the cost of the liquidation.(b)  The cost of liquidation shall be paid from the savings bank's assets as the commissioner directs.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 96.313 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 96 - Supervision and Regulation|Subchapter G. Liquidation|Section 96.313. Final Report

Sec. 96.313.  FINAL REPORT.  After paying a final dividend as provided by Section 96.309 and performing any necessary or proper action in liquidating the savings bank's assets for the benefit of the deposit account holders and creditors of the savings bank, the liquidating agent shall file with the commissioner a final report of the liquidation.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 96.314 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 96 - Supervision and Regulation|Subchapter G. Liquidation|Section 96.314. Continued Existence of Savings Bank Following Liquidation

Sec. 96.314.  CONTINUED EXISTENCE OF SAVINGS BANK FOLLOWING LIQUIDATION.  For the purpose of adjusting and settling claims not disposed of during the liquidation, the savings bank continues to exist until the third anniversary of the date on which the liquidation order is issued.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 96.315 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 96 - Supervision and Regulation|Subchapter G. Liquidation|Section 96.315. Special Liquidating Agent

Sec. 96.315.  SPECIAL LIQUIDATING AGENT.  At the completion of the liquidation, the commissioner may appoint a special liquidating agent if necessary to adjust and settle undisposed claims.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 96.316 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 96 - Supervision and Regulation|Subchapter G. Liquidation|Section 96.316. Closing of Liquidation; Order and Liability

Sec. 96.316.  CLOSING OF LIQUIDATION;  ORDER AND LIABILITY.  (a)  The liquidating agent shall certify the completion of the liquidation to the commissioner, who shall then issue an order closing the liquidation.(b)  After the closing order, the commissioner and the liquidating agent are discharged from any further duty or liability in connection with the administration of the savings bank's affairs.(c)  After the closing order, a person does not have a claim, suit, or action against the commissioner or the liquidating agent, individually or in an official capacity, except a suit to recover an unclaimed deposit as provided by this subchapter.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 96.317 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 96 - Supervision and Regulation|Subchapter G. Liquidation|Section 96.317. Administrative Procedure

Sec. 96.317.  ADMINISTRATIVE PROCEDURE.  The procedures for a contested case hearing under Chapter 2001, Government Code, apply to a hearing set by the commissioner under this subchapter.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 96.351 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 96 - Supervision and Regulation|Subchapter H. Confidentiality|Section 96.351. Disclosure by Department Prohibited

Sec. 96.351.  DISCLOSURE BY DEPARTMENT PROHIBITED.  Except as otherwise provided by this subtitle or a rule adopted under this subtitle, the following are confidential and may not be disclosed by the commissioner or an examiner, supervisor, conservator, liquidator, inspector, deputy, or assistant clerk or other employee of the Department of Savings and Mortgage Lending who is appointed or acting under this subtitle:(1)  information, regardless of the circumstances under which the information is obtained, regarding a financial institution or a shareholder, participant, officer, director, manager, affiliate, or service provider of a financial institution, other than information in a public statement or the public portion of a call report or profit and loss statement; and(2)  all related files and records of the department.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.043, eff. September 1, 2007.|
TX Fin Code § 96.352 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 96 - Supervision and Regulation|Subchapter H. Confidentiality|Section 96.352. Disclosure to Other Agencies

Sec. 96.352.  DISCLOSURE TO OTHER AGENCIES.  This subchapter does not prevent the proper exchange of information relating to savings banks with a representative of a regulatory authority of another state or any other department, agency, or instrumentality of this or another state or the United States if the commissioner determines the disclosure of the information is necessary or proper to enforce the laws of this or another state or the United States.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 96.353 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 96 - Supervision and Regulation|Subchapter H. Confidentiality|Section 96.353. Other Disclosure Prohibited

Sec. 96.353.  OTHER DISCLOSURE PROHIBITED.  (a)  Confidential information that is provided to a financial institution or an affiliate or service provider of a financial institution, whether in the form of a report of examination or otherwise, is the confidential property of the Department of Savings and Mortgage Lending.(b)  The information may not be made public or disclosed by the recipient or by an officer, director, manager, employee, or agent of the recipient to a person not officially connected to the recipient as officer, director, employee, attorney, auditor, or independent auditor, except as authorized by a rule adopted under this subchapter or by the commissioner's written approval.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.044, eff. September 1, 2007.|
TX Fin Code § 96.354 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 96 - Supervision and Regulation|Subchapter H. Confidentiality|Section 96.354. Civil Discovery

Sec. 96.354.  CIVIL DISCOVERY.  Discovery of confidential information from a person subject to this subchapter under subpoena or other legal process must comply with rules adopted under this subtitle.  The rules may:(1)  restrict release of confidential information to the portion directly relevant to the legal dispute at issue;  and(2)  require that a protective order, in the form and under circumstances specified by the rules, be issued by a court before release of the confidential information.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 96.355 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 96 - Supervision and Regulation|Subchapter H. Confidentiality|Section 96.355. Investigative Information

Sec. 96.355.  INVESTIGATIVE INFORMATION.  (a)  Notwithstanding any other law, the commissioner may refuse to release information or records in the custody of the Department of Savings and Mortgage Lending if the commissioner believes release of the information or records might jeopardize an investigation of possibly unlawful activities.(b)  Unless this subtitle  provides otherwise, this subchapter does not apply to any information or to a report of an investigation obtained or made by the commissioner or the commissioner's staff in connection with an application for charter or with a hearing held by the commissioner under this subtitle.  The fact, information, or report may be included in the record of the appropriate hearing.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.045, eff. September 1, 2007.|
TX Fin Code § 96.356 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 96 - Supervision and Regulation|Subchapter H. Confidentiality|Section 96.356. Examination Report

Sec. 96.356.  EXAMINATION REPORT.  Unless the commissioner determines that a good reason exists to make the report public, a report of an examination made to the commissioner is confidential.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 96.357 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 96 - Supervision and Regulation|Subchapter H. Confidentiality|Section 96.357. Removal for Violation

Sec. 96.357.  REMOVAL FOR VIOLATION.  A person who violates this subchapter or who wilfully makes a false official report on the condition of a financial institution shall be removed from office or further employment with the Department of Savings and Mortgage Lending.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.046, eff. September 1, 2007.|
TX Fin Code § 96.401 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 96 - Supervision and Regulation|Subchapter I. Miscellaneous Provisions|Section 96.401. Derivative Suit

Sec. 96.401.  DERIVATIVE SUIT.  (a)  The commissioner may bring a derivative suit on behalf of a savings bank on an unpursued cause of action if:(1)  the commissioner determines that the suit should be brought to protect the public interest or the interest of the savings bank or the shareholders, members, or creditors of the savings bank;  and(2)  the savings bank has not brought suit on the action before the 30th day after the date on which the commissioner gives notice to the savings bank that suit should be brought.(b)  Except as provided by another statute that provides for mandatory venue, venue is in a district court of Travis County.(c)  The commissioner may employ legal counsel to bring and prosecute a derivative suit.  The commissioner may:(1)  pay counsel from funds appropriated for the operation of the Department of Savings and Mortgage Lending; or(2)  require the savings bank for which the suit is brought to pay the counsel directly or to reimburse the Department of Savings and Mortgage Lending for the payment.(d)  The savings bank shall be paid an amount equal to the amount of the proceeds of a judgment on a suit brought under this section less unreimbursed costs and expenses, including attorney's fees incurred by the Department of Savings and Mortgage Lending in prosecuting the suit.(e)  In this section, "unpursued cause of action" means an existing claim belonging to a savings bank on which a suit or other effective action has not been filed or taken by or on behalf of the savings bank on or before the last day of the sixth month after the date on which the cause of action arose, involving:(1)  a claim for monetary damages or recovery of property;(2)  a claim for equitable relief;(3)  a cause of action for breach of contract or for enforcement of a contract;  or(4)  a claim on a fidelity bond.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2007, 80th Leg., R.S., Ch. 921 (H.B. 3167), Sec. 6.047, eff. September 1, 2007.|
TX Fin Code § 96.402 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle C - Savings Banks|Chapter 96 - Supervision and Regulation|Subchapter I. Miscellaneous Provisions|Section 96.402. Payment of Insured Deposit Liabilities by Fdic

Sec. 96.402.  PAYMENT OF INSURED DEPOSIT LIABILITIES BY FDIC.  If the Federal Deposit Insurance Corporation pays the insured deposit liabilities of a savings bank that has been closed or is being liquidated under this chapter, regardless of whether the Federal Deposit Insurance Corporation has become receiver or liquidating agent, the Federal Deposit Insurance Corporation is subrogated, to the extent of the payment, to all rights that the owners of the deposit accounts have against the savings bank.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|