The commissioner may intervene in the affairs of an association if the association or a person who participates in the affairs of the association or a subsidiary of the association:

1. (1) engages in or is about to engage in an unsafe and unsound practice in conducting the affairs of the association; or

2. (2) violates or is about to violate:

   1. (A) the articles of incorporation or bylaws of the association;
   2. (B) a law or supervisory order applicable to the association; or
   3. (C) a condition that the commissioner or the finance commission has imposed on the association by written order or agreement.

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