{"data":{"id":"us-tx/tex.-finance-code-126.303","jurisdiction":"us-tx","citation":"Tex. Finance Code § 126.303","heading":"PRIORITY OF CLAIMS.","body":"The liquidating agent shall use the credit union's assets to pay, in the following order:\n(1) secured creditors to the extent of the value of their collateral;\n(2) liquidation expenses, including a surety bond if required;\n(3) depositors;\n(4) general creditors, including secured creditors to the extent that their claims exceed the value of their collateral; and\n(5) distributions to members in proportion to the shares held by each member.\nActs 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE D. CREDIT UNIONS","CHAPTER 126. CREDIT UNION SUPERVISION AND REGULATION","SUBCHAPTER G. CLAIMS RELATING TO CREDIT UNION IN LIQUIDATION"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.126.htm#126.303","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"d97380506571177b5b27cb5633b6e41492c259e4b768c3397c37a582ce874b94","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-126.302","next":"us-tx/tex.-finance-code-126.304"},"notice":"GroundRules: Original legal text. Not legal advice."}