Texas § FI.37.005 - LIMITATIONS ON WITHDRAWALS FROM STATE BANK
Full text of Texas The Texas Constitution § FI.37.005 — LIMITATIONS ON WITHDRAWALS FROM STATE BANK, with citation guidance and answers to common questions.
§ FI.37.005. LIMITATIONS ON WITHDRAWALS FROM STATE BANK
LIMITATIONS ON WITHDRAWALS FROM STATE BANK. (a) At the request of a state bank that is experiencing or threatened with unusual and excessive withdrawals because of financial conditions, panic, or crisis, the banking commissioner, to prevent unnecessary loss to or preference among the depositors and creditors of the bank and to preserve the financial structure of the bank and its usefulness to the community, may issue an order limiting the right of withdrawal by or payment to depositors, creditors, and other persons to whom the bank is liable. (b) The order: (1) must expire not later than the 10th day after the date it is issued; (2) must be uniform in application to each class of liability; and (3) is not subject to judicial review. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Frequently Asked Questions About Texas § FI.37.005
What does The Texas Constitution § FI.37.005 cover?
Section FI.37.005 ("LIMITATIONS ON WITHDRAWALS FROM STATE BANK") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § FI.37.005?
A common citation format is "The Texas Constitution § FI.37.005" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § FI.37.005 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.