{"data":{"id":"us-tx/tex.-finance-code-96.309","jurisdiction":"us-tx","citation":"Tex. Finance Code § 96.309","heading":"PAYMENT OF FINAL DIVIDEND.","body":"(a) The liquidating agent may not pay a final dividend before the first day of the 19th month after the date notice is first published under Section 96.304.\n(b) The liquidating agent shall declare and pay a final dividend after:\n(1) the prohibitory period prescribed by Subsection (a) expires; and\n(2) the liquidating agent liquidates each asset of the savings bank capable of being liquidated or receives sufficient money from the liquidation to:\n(A) pay the costs of liquidation;\n(B) pay all claims that have been presented and approved; and\n(C) leave money available to pay all nonclaiming deposit account holders and creditors of the savings bank.\nActs 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE C. SAVINGS BANKS","CHAPTER 96. SUPERVISION AND REGULATION","SUBCHAPTER G. LIQUIDATION"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.96.htm#96.309","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"f131f288a3d5f3e70835685ee83fcc9ec84741ed607009ac5dca96436b1d99e9","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-96.308","next":"us-tx/tex.-finance-code-96.310"},"notice":"GroundRules: Original legal text. Not legal advice."}