Texas § FI.66.311 - PAYMENT OF NONCLAIMING DEPOSITORS AND CREDITORS
Full text of Texas The Texas Constitution § FI.66.311 — PAYMENT OF NONCLAIMING DEPOSITORS AND CREDITORS, with citation guidance and answers to common questions.
§ FI.66.311. PAYMENT OF NONCLAIMING DEPOSITORS AND CREDITORS
PAYMENT OF NONCLAIMING DEPOSITORS AND CREDITORS. (a) Except as provided by Subsection (b), the liquidating agent, on demand, shall pay a depositor or creditor of the association who does not make a claim under Section 66.305 any amount held by the liquidating agent for the benefit of the depositor or creditor. (b) If the liquidating agent has a doubt about the identity of a claimant or the claimant's right to the money, the liquidating agent shall reject the claim and notify the claimant by registered mail. (c) The liquidating agent's rejection of a claim becomes final if the claimant does not file suit against the liquidating agent to recover the money in a district court of Travis County within three months after the date on which the notice is mailed. (d) A suit under Subsection (c) is an action in rem. Judgment is binding on all persons interested in the money. 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.66.311
What does The Texas Constitution § FI.66.311 cover?
Section FI.66.311 ("PAYMENT OF NONCLAIMING DEPOSITORS AND CREDITORS") 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.66.311?
A common citation format is "The Texas Constitution § FI.66.311" (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.66.311 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.