126.301 – CLAIMS AGAINST CREDIT UNION. The liquidating
Texas Finance Code § 126.301
Summary
This law outlines the responsibilities of a liquidating agent for a credit union. It details how claims against the credit union are to be assessed, allowed, or disallowed, and how distributions to creditors and members are to be handled.
Liquidating agent determines and assesses claims against the credit union.
Allows or disallows claims based on proof of security or priority.
Distributes payments to creditors and members based on their interests.
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In simple terms: Learn about Texas's CLAIMS AGAINST CREDIT UNION. The liquidating law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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