Texas Finance Code 186.111 – Closure by Banking Commissioner for Involuntary Dissolution and Liquidation
Current as of: 2024 | Check for updates
|
Other versions
The banking commissioner may close the state trust company 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 state trust company’s clients and creditors; or
(2) the state trust company is insolvent or imminently insolvent.