(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 96.304.
(b) The liquidating agent shall declare and pay a final dividend after:
(1) the prohibitory period prescribed by Subsection (a) expires; and
(2) the liquidating agent liquidates each asset of the savings bank capable of being liquidated or receives sufficient money from the liquidation to:
(A) pay the costs of liquidation;
(B) pay all claims that have been presented and approved; and
(C) leave money available to pay all nonclaiming deposit account holders and creditors of the savings bank.
Official text of the Texas Finance Code as published by the Texas Legislative Council.