{"data":{"id":"us-tx/tex.-finance-code-66.303","jurisdiction":"us-tx","citation":"Tex. Finance Code § 66.303","heading":"DUTIES OF LIQUIDATING AGENT.","body":"(a) Under the commissioner's supervision, the liquidating agent shall:\n(1) receive and take possession of the books, records, assets, and property of the association;\n(2) sell, enforce collection of, and liquidate the assets and property of the association;\n(3) sue in the name of the liquidating agent or the association;\n(4) defend an action brought against the liquidating agent or the association;\n(5) receive, examine, and pass on a claim brought against the association, including a claim of a depositor;\n(6) make distributions to and pay creditors, depositors, shareholders, and members of the association as their interests appear;\n(7) from time to time make a ratable liquidation dividend on claims that have been proved to the satisfaction of the association's board of directors or the liquidating agent or that have been adjusted by a court;\n(8) after the association's assets have been liquidated, make further liquidation dividends on claims previously proved or adjusted; and\n(9) execute documents and perform any other action that the liquidating agent considers necessary or desirable to the liquidation.\n(b) For purposes of making a further liquidation dividend under Subsections (a)(7) and (8), the liquidating agent may accept the statement of an amount due a claimant as shown on the association's books and records instead of a formal proof of claim filed on the claimant's behalf.\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 G. LIQUIDATION"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.66.htm#66.303","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"6ad929ae6ddbe51b02fbb5a0c7e0ceac3783b54ae00c27a3c238e392aadac15d","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-66.302","next":"us-tx/tex.-finance-code-66.304"},"notice":"GroundRules: Original legal text. Not legal advice."}