Texas Finance Code 66.101 – Intervention for Violations and Unsafe and Unsound Practices
Current as of: 2024 | Check for updates
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Terms Used In Texas Finance Code 66.101
- 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
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
The commissioner may intervene in the affairs of an association if the association or a person who participates in the affairs of the association or a subsidiary of the association:
(1) engages in or is about to engage in an unsafe and unsound practice in conducting the affairs of the association; or
(2) violates or is about to violate:
(A) the articles of incorporation or bylaws of the association;
(B) a law or supervisory order applicable to the association; or
(C) a condition that the commissioner or the finance commission has imposed on the association by written order or agreement.