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Texas · Through 89th 2nd Called Legislative Session, 2025

Tex. Finance Code § 37.005: LIMITATIONS ON WITHDRAWALS FROM STATE BANK.

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Where this section sits in the code
  1. FINANCE CODE
  2. TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES
  3. SUBTITLE A. BANKS
  4. CHAPTER 37. EMERGENCIES

(a) At the request of a state bank that is experiencing or threatened with unusual and excessive withdrawals because of financial conditions, panic, or crisis, the banking commissioner, to prevent unnecessary loss to or preference among the depositors and creditors of the bank and to preserve the financial structure of the bank and its usefulness to the community, may issue an order limiting the right of withdrawal by or payment to depositors, creditors, and other persons to whom the bank is liable.

(b) The order:

(1) must expire not later than the 10th day after the date it is issued;

(2) must be uniform in application to each class of liability; and

(3) is not subject to judicial review.

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

Collected 2026-08-27T01:47:13Z. Source file · JSON

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