{"data":{"id":"us-tx/tex.-finance-code-36.304","jurisdiction":"us-tx","citation":"Tex. Finance Code § 36.304","heading":"SECURED CLAIM.","body":"(a) The owner of a secured claim against a bank in liquidation may:\n(1) surrender the security and file a claim as a general creditor; or\n(2) apply the security to the claim and discharge the claim.\n(b) If the owner applies the security and discharges the claim, any deficiency shall be treated as a claim against the general assets of the bank on the same basis as a claim of an unsecured creditor. The amount of the deficiency shall be determined as provided by Section 36.305, except that if the amount of the deficiency has been adjudicated by a court in a proceeding in which the receiver has had notice and an opportunity to be heard, the court's decision is conclusive as to the amount.\n(c) The value of security held by a secured creditor shall be determined under supervision of the court by:\n(1) converting the security into money according to the terms of the agreement under which the security was delivered to the creditor; or\n(2) agreement, arbitration, compromise, or litigation between the creditor and the receiver.\nActs 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE A. BANKS","CHAPTER 36. DISSOLUTION AND RECEIVERSHIP","SUBCHAPTER D. CLAIMS AGAINST RECEIVERSHIP ESTATE"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.36.htm#36.304","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"c80f1bb248f10e33076d7275504ab8a40c2695f97555114874dd6a6a2d3fcb02","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-36.303","next":"us-tx/tex.-finance-code-36.305"},"notice":"GroundRules: Original legal text. Not legal advice."}