Tex. Finance Code § 126.403
WINDING UP OF CREDIT UNION BUSINESS
Texas · Texas Finance Code · Status: effective
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- Citation
- Tex. Finance Code § 126.403, WINDING UP OF CREDIT UNION BUSINESS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/646106
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Full text
During the three-year period following cancellation of the credit union's certificate of incorporation, the credit union continues to exist and the liquidating agent, or a successor or other person designated by the commissioner, may act on the credit union's behalf to:
(1) pay, satisfy, or discharge an existing liability or obligation;
(2) collect and distribute assets; and
(3) act as required to adjust and wind up the credit union's business and affairs, including suing or being sued in the credit union's corporate name.