Sec. 96.303. DUTIES OF LIQUIDATING AGENT. (a) Under the commissioner's supervision, the liquidating agent shall: (1) receive and take possession of the books, records, assets, and property of the savings bank; (2) sell, enforce collection of, and liquidate the assets and property of the savings bank; (3) sue in the name of the liquidating agent or the savings bank; (4) defend an action brought against the liquidating agent or the savings bank; (5) receive, examine, and pass on a claim brought against the savings bank, including a claim of a depositor; (6) make distributions to and pay creditors, deposit account holders, shareholders, and members of the savings bank as their interests appear; (7) from time to time make a ratable liquidation dividend on claims that have been proved to the satisfaction of the liquidating agent or that have been adjusted by a court; (8) after the savings bank's assets have been liquidated, make further liquidation dividends on claims previously proved or adjusted; and (9) execute documents and perform any other action that the liquidating agent considers necessary or desirable for the liquidation. (b) For purposes of making a further liquidation dividend under Subsections (a)(7) and (8), the liquidating agent may accept the statement of an amount due a claimant as shown on the savings bank's books and records instead of a formal proof of claim on the claimant's behalf.
‹ Prev All Texas sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.