Texas § FI.66.354 - EFFECT OF RECEIVERSHIP ON COMMISSIONER AND LIQUIDATING AGENT
Full text of Texas The Texas Constitution § FI.66.354 — EFFECT OF RECEIVERSHIP ON COMMISSIONER AND LIQUIDATING AGENT, with citation guidance and answers to common questions.
§ FI.66.354. EFFECT OF RECEIVERSHIP ON COMMISSIONER AND LIQUIDATING AGENT
EFFECT OF RECEIVERSHIP ON COMMISSIONER AND LIQUIDATING AGENT. (a) On appointment of the receiver, the commissioner and liquidating agent are discharged from further duty in connection with the administration or regulation of the affairs of the association and are not liable, individually or in an official capacity, for an action or a failure to act while the association was in liquidation under this chapter. (b) The appointment or the action of a receiver under this subchapter does not invalidate an authorized action taken by the liquidating agent under Subchapter G. The prior action of the liquidating agent is considered valid as if the action had been approved by the court in the receivership proceedings. 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.66.354
What does The Texas Constitution § FI.66.354 cover?
Section FI.66.354 ("EFFECT OF RECEIVERSHIP ON COMMISSIONER AND LIQUIDATING AGENT") 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.66.354?
A common citation format is "The Texas Constitution § FI.66.354" (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.66.354 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.