Tex.
Fin. Code Section 66.303
Duties of Liquidating Agent
(a)
Under the commissioner’s supervision, the liquidating agent shall:(1)
receive and take possession of the books, records, assets, and property of the association;(2)
sell, enforce collection of, and liquidate the assets and property of the association;(3)
sue in the name of the liquidating agent or the association;(4)
defend an action brought against the liquidating agent or the association;(5)
receive, examine, and pass on a claim brought against the association, including a claim of a depositor;(6)
make distributions to and pay creditors, depositors, shareholders, and members of the association as their interests appear;(7)
from time to time make a ratable liquidation dividend on claims that have been proved to the satisfaction of the association’s board of directors or the liquidating agent or that have been adjusted by a court;(8)
after the association’s assets have been liquidated, make further liquidation dividends on claims previously proved or adjusted; and(9)
execute documents and perform any other action that the liquidating agent considers necessary or desirable to the liquidation.(b)
For purposes of making a further liquidation dividend under Subsections (a)(7) and (8), the liquidating agent may accept the statement of an amount due a claimant as shown on the association’s books and records instead of a formal proof of claim filed on the claimant’s behalf.
Source:
Section 66.303 — Duties of Liquidating Agent, https://statutes.capitol.texas.gov/Docs/FI/htm/FI.66.htm#66.303 (accessed Jun. 5, 2024).
