{"data":{"id":"us-tx/tex.-finance-code-36.201","jurisdiction":"us-tx","citation":"Tex. Finance Code § 36.201","heading":"ACTION TO CLOSE STATE BANK.","body":"(a) The banking commissioner may close and liquidate a state bank on finding that:\n(1) the interests of the bank's depositors and creditors are jeopardized by the bank's insolvency or imminent insolvency; and\n(2) the best interests of depositors and creditors would be served by requiring that the bank be closed and its assets liquidated.\n(b) A majority of the bank's directors may voluntarily close the bank and place it with the banking commissioner for liquidation.\nActs 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.\nAmended by:\nActs 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 52, eff. September 1, 2007.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE A. BANKS","CHAPTER 36. DISSOLUTION AND RECEIVERSHIP","SUBCHAPTER C. INVOLUNTARY DISSOLUTION AND LIQUIDATION"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.36.htm#36.201","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"3793d0d5e84b6b9312d32f0e6de51ca030f9c4dcda32d53a0fe0113a3693a7d9","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-36.112","next":"us-tx/tex.-finance-code-36.202"},"notice":"GroundRules: Original legal text. Not legal advice."}