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Tex. Finance Code § 36.111

CLOSURE BY BANKING COMMISSIONER FOR INVOLUNTARY DISSOLUTION AND LIQUIDATION

Texas · Texas Finance Code · Status: effective

Banking, Finance & Insurance
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Tex. Finance Code § 36.111, CLOSURE BY BANKING COMMISSIONER FOR INVOLUNTARY DISSOLUTION AND LIQUIDATION, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/645199
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The banking commissioner may close a state bank for involuntary dissolution and liquidation under this chapter if the banking commissioner determines that: (1) the voluntary liquidation is: (A) being conducted in an improper or illegal manner; or (B) not in the best interests of the bank's depositors and creditors; or (2) the bank is insolvent or imminently insolvent.