Texas Finance Code 36.111 – Closure by Banking Commissioner for Involuntary Dissolution and Liquidation
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The banking commissioner may close a state bank for involuntary dissolution and liquidation under this chapter if the banking commissioner determines that:
(1) the voluntary liquidation is:
(A) being conducted in an improper or illegal manner; or
(B) not in the best interests of the bank’s depositors and creditors; or
(2) the bank is insolvent or imminently insolvent.