Possession, Consolidation, and Disposition of Assets

Sec. 126.254. POSSESSION, CONSOLIDATION, AND DISPOSITION OF ASSETS. The liquidating agent shall: (1) receive and take possession of the books, records, assets, and property of the credit union; (2) sell, enforce collection of, and liquidate assets and property; and (3) sell or assign assets to the liquidating agent subject to Section 126.353. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.36, eff. Sept. 1, 1999.