Tex. Fin. Code Section 36.216
Preferences


(a)

A transfer of or lien on the property or assets of a state bank is voidable by the receiver if the transfer or lien:

(1)

was made or created less than:

(A)

four months before the date the bank is closed for liquidation; or

(B)

one year before the date the bank is closed for liquidation if the receiving creditor was at the time an affiliate, officer, director, or principal shareholder of the bank or an affiliate of the bank;

(2)

was made or created with the intent of giving to a creditor or depositor, or enabling a creditor or depositor to obtain, a greater percentage of the claimant’s debt than is given or obtained by another claimant of the same class; and

(3)

is accepted by a creditor or depositor having reasonable cause to believe that a preference will occur.

(b)

Each bank officer, director, shareholder, trustee, agent, servant, employee, attorney-in-fact, or correspondent, or other person acting on behalf of the bank, who has participated in implementing a voidable transfer or lien, and each person receiving property or the benefit of property of the bank as a result of the voidable transfer or lien, are personally liable for the property or benefit received and shall account to the receiver for the benefit of the depositors and creditors of the bank.

(c)

The receiver may avoid a transfer of or lien on the property or assets of a bank that a depositor, creditor, or shareholder of the bank could have avoided and may recover the property transferred or its value from the person to whom it was transferred or from a person who has received it unless the transferee or recipient was a bona fide holder for value before the date the bank was closed for liquidation.
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. 58, eff. September 1, 2007.

Source: Section 36.216 — Preferences, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­36.­htm#36.­216 (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

§ 36.216’s source at texas​.gov