Tex. Fin. Code Section 66.103
Intervention for Activity Resulting in Actual or Potential Loss

(a)

The commissioner may intervene in the affairs of an association if a person who participates in the affairs of the association or a subsidiary or savings and loan holding company of the association commits or is about to commit:

(1)

a fraudulent or criminal act in conducting the affairs that may cause the association or a subsidiary of the association to become or be in danger of becoming insolvent;

(2)

an act that threatens immediate or irreparable harm to the public or the association, a subsidiary of the association, or the account holders or creditors of the association; or

(3)

a breach of fiduciary duty that results in actual or probable substantial financial losses or other damages to the association or a subsidiary of the association or that would seriously prejudice the interest of savings account holders or holders of other security issued by the association.

(b)

The commissioner may intervene in the affairs of an association if the association:

(1)

is insolvent;

(2)

is in imminent danger of insolvency; or

(3)

makes or is about to make:

(A)

a loan the value of the security for which is materially overstated; or

(B)

an investment the market value of which is materially overstated.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

Source: Section 66.103 — Intervention for Activity Resulting in Actual or Potential Loss, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­66.­htm#66.­103 (accessed Jun. 5, 2024).

66.001
General Duties 66.002
Adoption of Rules 66.051
Examinations 66.052
Additional Examinations 66.053
Access to Books and Records 66.054
Subpoena 66.101
Intervention for Violations and Unsafe and Unsound Practices 66.102
Intervention for Filing Inappropriate Information 66.103
Intervention for Activity Resulting in Actual or Potential Loss 66.104
Intervention Relating to Examination of Affairs 66.105
Temporary Supervisory Order 66.106
Service of Temporary Supervisory Order 66.107
Hearing on Temporary Supervisory Order 66.108
Plan of Operation of Association After Order of Temporary Conservatorship 66.109
Enforcement of Supervisory Order 66.110
Stay of Supervisory Order 66.111
Disclosure of Information in Supervisory Order 66.151
Placement of Association Under Conservatorship 66.152
Duties of Conservator 66.153
Term of Conservator 66.154
Transfer of Management of Rehabilitated Association 66.155
Scope of Authority of Other Persons During Conservatorship 66.156
Cost of Conservatorship 66.157
Venue 66.201
Placement of Association Under Voluntary Supervisory Control 66.202
Powers of Supervisors 66.203
Cost of Supervisory Control 66.251
Closing of Association by Board Resolution 66.252
Closing of Association by Commissioner’s Order 66.253
Notice of Closing 66.254
Effect of Closing 66.255
Hearing on Commissioner’s Order 66.301
Liquidation of Association 66.302
Removal or Replacement of Liquidating Agent 66.303
Duties of Liquidating Agent 66.304
Notice 66.305
Presentation of Claim 66.306
Priority of Claims 66.307
Action on Claim 66.308
Hearing on Claim 66.309
Payment of Final Dividend 66.310
Deposit of Money by Liquidating Agent 66.311
Payment of Nonclaiming Depositors and Creditors 66.312
Cost of Liquidation 66.313
Final Report 66.314
Continued Existence of Association Following Liquidation 66.315
Special Liquidating Agent 66.316
Closing of Liquidation 66.317
Administrative Procedure 66.351
Placement of Certain Associations in Receivership 66.352
Duties of Receiver 66.353
Compensation of Receiver 66.354
Effect of Receivership on Commissioner and Liquidating Agent 66.355
Receipt of Items as Evidence in Receivership Proceeding 66.356
Title and Custody of Association’s Assets 66.401
Derivative Suit 66.402
Payment of Insured Deposit Liabilities by Fdic 66.403
Enforceability of Loan Promise or Agreement Made by Association Before Conservatorship or Supervisory Control
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 66.103’s source at texas​.gov