- (a) The liquidating agent shall give notice to creditors and members to present and prove their claims.
- (b) The notice must be published once a week for three successive weeks in a newspaper of general circulation in each county in which the credit union maintained an office or branch to transact business on the date the credit union ceased unrestricted operations.
- (c) When the aggregate book value of the assets and property of the credit union being liquidated is less than $10,000, the commissioner shall declare the credit union to be a "no publication" liquidation, and publication of notice to creditors and members under this section is not required.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.