Finance Code § 36.201
The banking commissioner may close and liquidate a state bank if insolvency or imminent insolvency threatens depositors and creditors and liquidation would best serve their interests. A majority of the bank’s directors may also voluntarily close the bank and place it with the commissioner for liquidation.
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- Jurisdiction
- United States — Texas
- Instrument
- Code
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- Language
- en
- Official source
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bank insolvency bank liquidation
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Finance Code § 36.201
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