- (a) On dissolution, money in the primary account shall be used to redeem all securities issued by the corporation and held by a member association. If money in the primary account is insufficient to redeem the securities, the administrative account may be used.
- (b) On dissolution, the earnings of the corporation accrue to this state and may not be distributed to any other person.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.