§ 187.15

10 Tex. Admin. Code § 187.15

Limitations on State's Liability

Effective Sep 15, 199722 TexReg 8967Source Note: The provisions of this §187.15 adopted to be effective September 15, 1997, 22 TexReg 8967.Texas Secretary of State

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(a) The liability of either the department or the state is limited to the proceeds contributed to the reserve of a participating financial institution.
(b) In no instance shall the liability of either the state or the department be extended beyond the capacity of the participating financial institution's established reserve account.

Source Note:The provisions of this §187.15 adopted to be effective September 15, 1997, 22 TexReg 8967.