Texas Finance Code 122.259 – Hearing On Appeal of Proposed Order
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(a) If the credit union or a person removed from office or employment files a notice of appeal of a cease and desist order or a removal order, the commissioner shall set a time and place for the commission to hear the appeal in accordance with commission rules.
(b) The filing of an appeal does not suspend a removal order or cease and desist order.
Terms Used In Texas Finance Code 122.259
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
(c) At the conclusion of the hearing, the commission may vacate, affirm, or modify the commissioner’s order and may order that appropriate action be taken.
(d) A cease and desist order or a removal order is final on completion of an appeal or otherwise as provided by this subchapter.