Tex. Fin. Code Section 36.108
Final Liquidation


(a)

After the bank has taken all of the actions specified by Sections 36.102 (Filing Resolutions with Banking Commissioner), 36.105 (Safe Deposits and Other Bailments), and 36.107 (Fiduciary Activities), paid all its debts and obligations, and transferred all property for which a legal claimant has been found after the time for presentation of claims has expired, the bank shall make a list from its books of the names of each depositor, creditor, owner of personal property in the bank’s possession or custody, or lessee of any safe, vault, or box, who has not claimed or has not received a deposit, debt, dividend, interest, balance, or other amount or property due to the person. The list must be sworn to or affirmed by a majority of the bank’s board.

(b)

The bank shall:

(1)

file the list and any necessary identifying information with the banking commissioner;

(2)

pay any unclaimed money and deliver any unclaimed property to the comptroller as provided by Chapter 74 (Report, Delivery, and Claims Process), Property Code; and

(3)

certify to the banking commissioner that the unclaimed money has been paid and unclaimed property has been delivered to the comptroller.

(c)

After the banking commissioner has reviewed the list and has reconciled the unclaimed cash and property with the amounts of money and property reported and transferred to the comptroller, the banking commissioner shall allow the bank to distribute the bank’s remaining assets, if any, among its shareholders as their ownership interests appear.

(d)

After distribution of all remaining assets under Subsection (c), the bank shall file with the department:

(1)

an affidavit and schedules, sworn to or affirmed by a majority of the bank’s board, showing the distribution to each shareholder;

(2)

all copies of reports of examination of the bank in its possession; and

(3)

its original charter or an affidavit stating that the original charter is lost.

(e)

After verifying the submitted information and documents, the banking commissioner shall issue a certificate canceling the charter of the bank.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 51, eff. September 1, 2007.

Source: Section 36.108 — Final Liquidation, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­36.­htm#36.­108 (accessed Jun. 5, 2024).

36.001
Definition
36.002
Remedies Exclusive
36.003
Federal Deposit Insurance Corporation as Liquidator
36.004
Appointment of Independent Receiver
36.005
Succession of Trust Powers
36.101
Initiating Voluntary Dissolution
36.102
Filing Resolutions with Banking Commissioner
36.103
Banking Commissioner Investigation and Consent
36.104
Notice of Pending Dissolution
36.105
Safe Deposits and Other Bailments
36.106
Offices to Remain Open
36.107
Fiduciary Activities
36.108
Final Liquidation
36.109
Application of Law to Bank in Dissolution
36.110
Authorization of Deviation from Procedures
36.111
Closure by Banking Commissioner for Involuntary Dissolution and Liquidation
36.112
Application for New Charter
36.201
Action to Close State Bank
36.202
Notice and Effect of Closure
36.203
Nature and Duration of Receivership
36.204
Contest of Liquidation
36.205
Notice of Bank Closing
36.206
Inventory
36.207
Receiver’s Title and Priority
36.208
Rights Fixed
36.209
Depositories
36.210
Pending Lawsuit
36.211
New Lawsuit
36.212
Requiring Record or Other Property in Possession of Other Person
36.213
Injunction in Aid of Liquidation
36.214
Subpoena
36.215
Executory Contract
36.216
Preferences
36.217
Employees of Receiver
36.218
Disposal of Property
36.219
Court Order
36.220
Receiver’s Report
36.221
Court-ordered Audit
36.222
Safe Deposits and Other Bailments
36.223
Fiduciary Activities
36.224
Disposition and Maintenance of Records
36.225
Records Admitted
36.226
Resumption of Business
36.227
Assets Discovered After Close of Receivership
36.301
Filing Claim
36.302
Proof of Claim
36.303
Judgment as Proof of Claim
36.304
Secured Claim
36.305
Unliquidated or Undetermined Claim
36.306
Set-off
36.307
Action on Claim
36.308
Objection to Approved Claim
36.309
Appeal of Rejected Claim
36.310
Payment of Claim
36.311
Priority of Claims Against Insured Bank
36.312
Priority of Claims Against Uninsured Bank
36.313
Excess Assets
36.314
Unclaimed Property

Accessed:
Jun. 5, 2024

§ 36.108’s source at texas​.gov