Sec. 66.309.  PAYMENT OF FINAL DIVIDEND.  (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.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.