Tex. Finance Code § 96.309
PAYMENT OF FINAL DIVIDEND
Texas · Texas Finance Code · Status: effective
Cite this
- Citation
- Tex. Finance Code § 96.309, PAYMENT OF FINAL DIVIDEND, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/645790
- Permanent ID
ys:prov:645790@1- SHA-256
06650d12938420fdb06e0fc97618fc37ea780a3b6afae05f14e2aabedaa74031
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 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.