Texas Finance Code 126.254 – Possession, Consolidation, and Disposition of Assets
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Terms Used In Texas Finance Code 126.254
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Property: means real and personal property. See Texas Government Code 311.005
The liquidating agent shall:
(1) receive and take possession of the books, records, assets, and property of the credit union;
(2) sell, enforce collection of, and liquidate assets and property; and
(3) sell or assign assets to the liquidating agent subject to Section 126.353.