Texas § FI.66.309 - PAYMENT OF FINAL DIVIDEND
Full text of Texas The Texas Constitution § FI.66.309 — PAYMENT OF FINAL DIVIDEND, with citation guidance and answers to common questions.
§ FI.66.309. PAYMENT OF FINAL DIVIDEND
PAYMENT OF FINAL DIVIDEND. (a) The liquidating agent may not pay a final dividend before the first day of the 19th month after the date notice is first published under Section 66.304 . (b) The liquidating agent shall declare and pay a final dividend after: (1) the period provided by Subsection (a) expires; and (2) the liquidating agent liquidates each asset of the association capable of being liquidated or receives sufficient money from the liquidation to: (A) pay the costs of the liquidation; (B) pay all claims that have been presented and established; and (C) leave money available to pay all nonclaiming depositors and creditors of the association. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § FI.66.309
What does The Texas Constitution § FI.66.309 cover?
Section FI.66.309 ("PAYMENT OF FINAL DIVIDEND") 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.66.309?
A common citation format is "The Texas Constitution § FI.66.309" (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.66.309 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.