Texas Finance Code 126.204 – Action Pending Injunction Hearing
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(a) The court, without notice or hearing, may restrain the commissioner from liquidating the credit union’s assets until after a hearing on the suit is held.
(b) If the court restrains the commissioner, the court shall instruct the commissioner to hold the credit union’s assets in the commissioner’s possession and control until disposition of the suit.
Terms Used In Texas Finance Code 126.204
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
(c) With court approval, the commissioner may take any necessary or proper action to prevent loss or depreciation in the value of the assets.