Gavvy: Fin. Code, Sec. 35.113. Administrative Election of Remedies.

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Sec. 35.113. Administrative Election of Remedies.

Sec. 35.113. ADMINISTRATIVE ELECTION OF REMEDIES. The banking commissioner may take any action authorized by Chapter 36 regardless of the existence of supervision or conservatorship. A period of supervision or conservatorship is not required before a bank is closed for liquidation or other remedial action is taken.

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

Gavvy last updated this database on: Sep 6, 2024