(a) The liquidating agent may not pay a final dividend before the first day of the 19th month after the date notice is first published under Section 66.304.
(b) The liquidating agent shall declare and pay a final dividend after:
(1) the period provided by Subsection (a) expires; and
(2) the liquidating agent liquidates each asset of the association capable of being liquidated or receives sufficient money from the liquidation to:
(A) pay the costs of the liquidation;
(B) pay all claims that have been presented and established; and
(C) leave money available to pay all nonclaiming depositors and creditors of the association.
Official text of the Texas Finance Code as published by the Texas Legislative Council.