Tex.
Fin. Code Section 96.303
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 savings bank;(2)
sell, enforce collection of, and liquidate the assets and property of the savings bank;(3)
sue in the name of the liquidating agent or the savings bank;(4)
defend an action brought against the liquidating agent or the savings bank;(5)
receive, examine, and pass on a claim brought against the savings bank, including a claim of a depositor;(6)
make distributions to and pay creditors, deposit account holders, shareholders, and members of the savings bank 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 liquidating agent or that have been adjusted by a court;(8)
after the savings bank’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 for 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 savings bank’s books and records instead of a formal proof of claim on the claimant’s behalf.
Source:
Section 96.303 — Duties of Liquidating Agent, https://statutes.capitol.texas.gov/Docs/FI/htm/FI.96.htm#96.303 (accessed Jun. 5, 2024).
