{"data":{"id":"us-tx/tex.-finance-code-66.252","jurisdiction":"us-tx","citation":"Tex. Finance Code § 66.252","heading":"CLOSING OF ASSOCIATION BY COMMISSIONER'S ORDER.","body":"The commissioner or the commissioner's representative may close an association if the commissioner determines after an examination that:\n(1) the interests of the depositors and creditors of the association are jeopardized because of:\n(A) the association's insolvency or imminent insolvency; or\n(B) a substantial dissipation of the association's assets or earnings because of a violation of a law or an unsafe or unsound practice; and\n(2) it is in the best interest of the depositors and creditors to close the association and liquidate the association's assets.\nActs 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE B. SAVINGS AND LOAN ASSOCIATIONS","CHAPTER 66. ENFORCEMENT AND REGULATION","SUBCHAPTER F. CLOSING"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.66.htm#66.252","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"fb194b6a73f3c5adc51841ab2b5e02131adb14f745c4c963ed6d25b1cbce3ab4","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-66.251","next":"us-tx/tex.-finance-code-66.253"},"notice":"GroundRules: Original legal text. Not legal advice."}