The banking commissioner may close a state bank for involuntary dissolution and liquidation under this chapter if the banking commissioner determines that:

1. (1) the voluntary liquidation is:

   1. (A) being conducted in an improper or illegal manner; or
   2. (B) not in the best interests of the bank's depositors and creditors; or
2. (2) the bank is insolvent or imminently insolvent.

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.