Texas § FI.66.255 - HEARING ON COMMISSIONER'S ORDER
Full text of Texas The Texas Constitution § FI.66.255 — HEARING ON COMMISSIONER'S ORDER, with citation guidance and answers to common questions.
§ FI.66.255. HEARING ON COMMISSIONER'S ORDER
HEARING ON COMMISSIONER'S ORDER. (a) Not later than the second day, excluding legal holidays, after the date on which the commissioner closes an association under Section 66.252 , the association, by resolution of its board, may sue in a district court of Travis County to enjoin the commissioner from taking further action under this subchapter. (b) The court, without notice or hearing, may restrain the commissioner from taking further action until after a hearing on the suit is held. If the court restrains the commissioner, the court shall instruct the commissioner to hold the assets and affairs of the association in the commissioner's possession until disposition of the suit. On receipt of this instruction, the commissioner shall refrain from taking further action, other than a necessary or proper action approved by the court to prevent loss or depreciation in the value of the assets. (c) The court as soon as possible shall hear the suit and shall enter a judgment enjoining or refusing to enjoin the commissioner from proceeding under this subchapter. (d) The commissioner, regardless of the judgment entered by the court or any supersedeas bond filed, shall retain possession of the association's assets until final disposition of any appeal of the judgment. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. SUBCHAPTER G. LIQUIDATION
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § FI.66.255
What does The Texas Constitution § FI.66.255 cover?
Section FI.66.255 ("HEARING ON COMMISSIONER'S ORDER") 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.66.255?
A common citation format is "The Texas Constitution § FI.66.255" (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.66.255 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.