(a) The liquidating agent from time to time shall make a ratable liquidation dividend on claims that have been:
- (1) proved to the satisfaction of the board or the liquidating agent; or
- (2) adjusted by a court.
- (b) After the credit union's assets have been liquidated, the liquidating agent shall make further liquidation dividends on claims previously proved or adjusted.
- (c) For purposes of making a further liquidation dividend under Subsection (b), the liquidating agent may accept the statement of an amount due a claimant as shown on the credit union's books and records instead of a formal proof of claim filed on the claimant's behalf.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.