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2025 Texas Statutes
Finance Code
Title 3 - Financial Institutions and Businesses
Subtitle D - Credit Unions
Chapter 126 - Credit Union Supervision and Regulation
Subchapter E. Liquidation Order; Injunction
Section 126.204. Action Pending Injunction Hearing
Universal Citation:
TX Fin Code § 126.204 (2025)
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Sec. 126.204. ACTION PENDING INJUNCTION HEARING. (a) The court, without notice or hearing, may restrain the commissioner from liquidating the credit union's assets until after a hearing on the suit is held.
(b) If the court restrains the commissioner, the court shall instruct the commissioner to hold the credit union's assets in the commissioner's possession and control until disposition of the suit.
(c) With court approval, the commissioner may take any necessary or proper action to prevent loss or depreciation in the value of the assets.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
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