reglab/housing_qa huggingface dataset:
TX Fin Code § 66.151 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 66 - Enforcement and Regulation|Subchapter D. Conservatorship|Section 66.151. Placement of Association Under Conservatorship

Sec. 66.151.  PLACEMENT OF ASSOCIATION UNDER CONSERVATORSHIP.  If the commissioner does not approve a plan to continue the operation of an association under Section 66.108, the conservator shall continue to manage the affairs of the association unless the temporary conservatorship order is modified or vacated:(1)  by order of the commissioner;  or(2)  as a result of judicial review.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 66.152 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 66 - Enforcement and Regulation|Subchapter D. Conservatorship|Section 66.152. Duties of Conservator

Sec. 66.152.  DUTIES OF CONSERVATOR.  (a)  The conservator and any deputy or assistant conservator appointed by the commissioner, under the direction and supervision of the commissioner, shall:(1)  take possession and control of the books, records, property, assets, liabilities, and business of the association;  and(2)  conduct the business and affairs of the association.(b)  The conservator shall:(1)  undertake to remove the causes and conditions that made the conservatorship necessary;  and(2)  during the conservatorship, report to the commissioner as required by the commissioner.(c)  The conservator shall take measures necessary to preserve, protect, and recover the assets or property of the association, including a claim or cause of action that belongs to or may be asserted by the association.  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 association if the conservator considers it necessary to protect the interested party or property affected by the suit.(e)  A suit filed by the conservator under Subsection (c) must be brought in Travis County.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 66.153 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 66 - Enforcement and Regulation|Subchapter D. Conservatorship|Section 66.153. Term of Conservator

Sec. 66.153.  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 § 66.154 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 66 - Enforcement and Regulation|Subchapter D. Conservatorship|Section 66.154. Transfer of Management of Rehabilitated Association

Sec. 66.154.  TRANSFER OF MANAGEMENT OF REHABILITATED ASSOCIATION.  If the association is rehabilitated, the conservator shall return the management of the association to the association's board under terms that are reasonable and necessary to prevent a recurrence of the conditions that created the need for the conservatorship.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 66.155 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 66 - Enforcement and Regulation|Subchapter D. Conservatorship|Section 66.155. Scope of Authority of Other Persons During Conservatorship

Sec. 66.155.  SCOPE OF AUTHORITY OF OTHER PERSONS DURING CONSERVATORSHIP.  During the conservatorship, a person who participates in the affairs of the association shall act according to the conservator's instructions and may exercise only the authority that the conservator expressly grants.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 66.156 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 66 - Enforcement and Regulation|Subchapter D. Conservatorship|Section 66.156. Cost of Conservatorship

Sec. 66.156.  COST OF CONSERVATORSHIP.  (a)  The commissioner shall determine the cost of the conservatorship.(b)  The cost of conservatorship shall be paid from the association's assets.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 66.157 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 66 - Enforcement and Regulation|Subchapter D. Conservatorship|Section 66.157. Venue

Sec. 66.157.  VENUE.  A suit filed against an association or its conservator while a conservatorship order is in effect must be brought in Travis County.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 66.201 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 66 - Enforcement and Regulation|Subchapter E. Voluntary Supervisory Control|Section 66.201. Placement of Association Under Voluntary Supervisory Control

Sec. 66.201.  PLACEMENT OF ASSOCIATION UNDER VOLUNTARY SUPERVISORY CONTROL.  (a)  An association's board may consent to the commissioner's placement of the association under supervisory control.(b)  The commissioner may appoint the supervisor and one or more deputy supervisors.(c)  Supervisory control continues until the conditions for which the supervisory control was imposed are corrected.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 66.202 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 66 - Enforcement and Regulation|Subchapter E. Voluntary Supervisory Control|Section 66.202. Powers of Supervisors

Sec. 66.202.  POWERS OF SUPERVISORS.  A supervisor or deputy supervisor has the powers of a conservator under Subchapter D  and any other power established by agreement between the commissioner and the association's board of directors.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 66.203 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 66 - Enforcement and Regulation|Subchapter E. Voluntary Supervisory Control|Section 66.203. Cost of Supervisory Control

Sec. 66.203.  COST OF SUPERVISORY CONTROL.  The cost of the supervisory control of an association shall be set by the commissioner and paid by the association.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 66.251 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 66 - Enforcement and Regulation|Subchapter F. Closing|Section 66.251. Closing of Association by Board Resolution

Sec. 66.251.  CLOSING OF ASSOCIATION BY BOARD RESOLUTION.  An association's board, by resolution and with the commissioner's consent, may close the association and tender to the commissioner for disposition as provided by this subchapter the assets and all the affairs of the association.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 66.252 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 66 - Enforcement and Regulation|Subchapter F. Closing|Section 66.252. Closing of Association by Commissioner's Order

Sec. 66.252.  CLOSING OF ASSOCIATION BY COMMISSIONER'S ORDER.  The commissioner or the commissioner's representative may close an association if the commissioner determines after an examination that:(1)  the interests of the depositors and creditors of the association are jeopardized because of:(A)  the association's insolvency or imminent insolvency;  or(B)  a substantial dissipation of the association's assets or earnings because of a violation of a law or an unsafe or unsound practice;  and(2)  it is in the best interest of the depositors and creditors to close the association and liquidate the association's assets.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 66.253 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 66 - Enforcement and Regulation|Subchapter F. Closing|Section 66.253. Notice of Closing

Sec. 66.253.  NOTICE OF CLOSING.  (a)  Immediately after an association is closed by its board or by the commissioner under this subchapter, the commissioner shall post at the main entrance of the association an appropriate notice of the closure.  After notice is posted, a judgment lien, attachment lien, or other voluntary lien may not attach to an asset of the association, and a director or an officer or agent of the association may not:(1)  act for the association;  or(2)  convey, transfer, assign, pledge, mortgage, or encumber an asset of the association.(b)  An attempt to take an action prohibited under Subsection (a)(2) after the notice is posted or in anticipation of posting the notice, including preferring in any manner a depositor or creditor of the association, is void.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 66.254 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 66 - Enforcement and Regulation|Subchapter F. Closing|Section 66.254. Effect of Closing

Sec. 66.254.  EFFECT OF CLOSING.  (a)  On closing an association under this subchapter, the commissioner may:(1)  liquidate the association as provided by Subchapter E;   or(2)  tender the association's assets and all the association's affairs to the Federal Deposit Insurance Corporation and appoint the Federal Deposit Insurance Corporation as receiver or liquidating agent to act in accordance with this chapter or federal law.(b)  The Federal Deposit Insurance Corporation on accepting the tender and appointment prescribed by Subsection (a)(2) may:(1)  act without bond or other security as to the appointment;  and(2)  without court supervision, exercise any right, power, or privilege provided by the laws of this state to a receiver or liquidating agent, as applicable, and any applicable right, power, or privilege available under federal law.(c)  On acceptance of the appointment prescribed by Subsection (a)(2), possession of and title to all the assets, business, and property of the association pass to the Federal Deposit Insurance Corporation without the execution of any instrument transferring title or right of use.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 66.255 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 66 - Enforcement and Regulation|Subchapter F. Closing|Section 66.255. Hearing on Commissioner's Order

Sec. 66.255.  HEARING ON COMMISSIONER'S ORDER.  (a)  Not later than the second day, excluding legal holidays, after the date on which the commissioner closes an association under Section 66.252, the association, by resolution of its board, may sue in a district court of Travis County to enjoin the commissioner from taking further action under this subchapter.(b)  The court, without notice or hearing, may restrain the commissioner from taking further action until after a hearing on the suit is held.  If the court restrains the commissioner, the court shall instruct the commissioner to hold the assets and affairs of the association in the commissioner's possession until disposition of the suit.  On receipt of this instruction, the commissioner shall refrain from taking further action, other than a necessary or proper action approved by the court to prevent loss or depreciation in the value of the assets.(c)  The court as soon as possible shall hear the suit and shall enter a judgment enjoining or refusing to enjoin the commissioner from proceeding under this subchapter.(d)  The commissioner, regardless of the judgment entered by the court or any supersedeas bond filed, shall retain possession of the association'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 § 66.301 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 66 - Enforcement and Regulation|Subchapter G. Liquidation|Section 66.301. Liquidation of Association

Sec. 66.301.  LIQUIDATION OF ASSOCIATION.  (a)  If the commissioner doubts that an association subject to a conservatorship order can be rehabilitated, the commissioner may set a hearing to determine whether the association 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 association and by publication in a newspaper of general circulation in the county in which the principal office of the association is located.(b)  If the commissioner finds that the association cannot be rehabilitated and it is in the public interest and the best interest of the savings account holders and creditors of the association that the bank be closed and its assets liquidated, the commissioner by liquidation order may appoint a liquidating agent and dissolve the association.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 66.302 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 66 - Enforcement and Regulation|Subchapter G. Liquidation|Section 66.302. Removal or Replacement of Liquidating Agent

Sec. 66.302.  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 § 66.303 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 66 - Enforcement and Regulation|Subchapter G. Liquidation|Section 66.303. Duties of Liquidating Agent

Sec. 66.303.  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 association;(2)  sell, enforce collection of, and liquidate the assets and property of the association;(3)  sue in the name of the liquidating agent or the association;(4)  defend an action brought against the liquidating agent or the association;(5)  receive, examine, and pass on a claim brought against the association, including a claim of a depositor;(6)  make distributions to and pay creditors, depositors, shareholders, and members of the association 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 association's board of directors or the liquidating agent or that have been adjusted by a court;(8)  after the association'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 to 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 association's books and records instead of a formal proof of claim filed on the claimant's behalf.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 66.304 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 66 - Enforcement and Regulation|Subchapter G. Liquidation|Section 66.304. Notice

Sec. 66.304.  NOTICE.  (a)  Under the commissioner's supervision, the liquidating agent shall give notice to creditors and savings 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 association maintained an office or branch to transact business on the date the association 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 association at the address shown in those books.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 66.305 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 66 - Enforcement and Regulation|Subchapter G. Liquidation|Section 66.305. Presentation of Claim

Sec. 66.305.  PRESENTATION OF CLAIM.  (a)  To be entitled to priority, each person asserting a claim against an association 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 66.304 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 on which the claim is based;(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 § 66.306 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 66 - Enforcement and Regulation|Subchapter G. Liquidation|Section 66.306. Priority of Claims

Sec. 66.306.  PRIORITY OF CLAIMS.  On liquidation of an association, claims for payment have the following priority:(1)  obligations incurred by the commissioner or the liquidating agent, fees and assessments due the Department of Savings and Mortgage Lending, and expenses of liquidation, all of which may be covered by the proper reserve of money;(2)  approved claims of creditors, to the extent that the claims are secured by, or constitute a lien on, the assets or property of the association;(3)  approved claims of depositors against the general liquidating account of the association;(4)  approved claims of general creditors and the unsecured portion of a creditor obligation described by Subdivision (2);(5)  otherwise approved claims that were not filed within the time prescribed by Section 66.305;(6)  approved claims of subordinated creditors; and(7)  claims of shareholders of the association.|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. 6.032, eff. September 1, 2007.|
TX Fin Code § 66.307 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 66 - Enforcement and Regulation|Subchapter G. Liquidation|Section 66.307. Action on Claim

Sec. 66.307.  ACTION ON CLAIM.  (a)  Within three months after the date of receipt of a claim against an association 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 66.304 qualifies to participate in dividends previously paid before an additional dividend is declared.  A claim that was not presented during that period does not qualify to participate in a dividend or distribution of assets until all approved claims filed during that period are fully paid.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 66.308 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 66 - Enforcement and Regulation|Subchapter G. Liquidation|Section 66.308. Hearing on Claim; Appeal of Adverse Determination of Claim

Sec. 66.308.  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 66.307.(b)  The determination on a claim becomes final and is not subject to review if suit is not filed in accordance with Subsection (a).(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 § 66.309 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 66 - Enforcement and Regulation|Subchapter G. Liquidation|Section 66.309. Payment of Final Dividend

Sec. 66.309.  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 66.304.(b)  The liquidating agent shall declare and pay a final dividend after:(1)  the period provided by Subsection (a) expires;  and(2)  the liquidating agent liquidates each asset of the association capable of being liquidated or receives sufficient money from the liquidation to:(A)  pay the costs of the liquidation;(B)  pay all claims that have been presented and established;  and(C)  leave money available to pay all nonclaiming depositors and creditors of the association.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 66.310 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle B - Savings and Loan Associations|Chapter 66 - Enforcement and Regulation|Subchapter G. Liquidation|Section 66.310. Deposit of Money by Liquidating Agent

Sec. 66.310.  DEPOSIT OF MONEY BY LIQUIDATING AGENT.  The liquidating agent shall deposit all unclaimed dividends and all money available for nonclaiming depositors and creditors in one or more state-chartered financial institutions for the benefit of the depositors and creditors entitled to the dividends or money.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|