Tex. Finance Code § 66.309
PAYMENT OF FINAL DIVIDEND
Texas · Texas Finance Code · Status: effective
Cite this
- Citation
- Tex. Finance Code § 66.309, PAYMENT OF FINAL DIVIDEND, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/645502
- Permanent ID
ys:prov:645502@1- SHA-256
5e5265fc97caba937d75bb6579fc47bda41ca0b26fd33e3cb44b94daaaf151da
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(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.