Tex. Fin. Code Section 36.313
Excess Assets


(a)

If bank assets remain after the receiver has provided for unclaimed distributions and all of the liabilities of the bank in liquidation, the receiver shall distribute the remaining assets to the shareholders of the bank.

(b)

If the remaining assets are not liquid or if they otherwise require continuing administration, the receiver may call a meeting of the shareholders of the bank. The receiver shall give notice of the meeting:

(1)

in a newspaper of general circulation in the county where the home office of the bank was located; and

(2)

by written notice to the shareholders of record at their last known addresses.

(c)

At the meeting, the shareholders shall appoint one or more agents to take over the affairs to continue the liquidation for the benefit of the shareholders. Voting privileges are governed by the bank’s bylaws and certificate of formation. If a quorum cannot be obtained at the meeting, the banking commissioner shall appoint an agent. An agent appointed under this subsection shall execute and file with the court a bond approved by the court, conditioned on the faithful performance of all the duties of the trust.

(d)

Under order of the court the receiver shall transfer and deliver to the agent or agents for continued liquidation under the court’s supervision all assets of the bank remaining in the receiver’s hands. The court shall discharge the receiver from further liability to the bank and its depositors, creditors, and shareholders.

(e)

The bank may not resume business and the charter of the bank is void on the date the court issues the order directing the receiver to transfer and deliver the remaining assets of the bank to the agent or agents.
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. 63, eff. September 1, 2007.
Acts 2013, 83rd Leg., R.S., Ch. 575 (S.B. 804), Sec. 15, eff. June 14, 2013.

Source: Section 36.313 — Excess Assets, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­36.­htm#36.­313 (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

§ 36.313’s source at texas​.gov