Texas Finance Code - Section 36.004. Appointment Of Independent Receiver
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Texas Lawyer > Finance Code > Texas Finance Code - Section 36.004. Appointment Of Independent Receiver
§ 36.004. APPOINTMENT OF INDEPENDENT RECEIVER. (a) On
request of the banking commissioner, the court in which a
liquidation proceeding is pending may:
(1) appoint an independent receiver; and
(2) require a suitable bond of the independent
receiver.
(b) On appointment of an independent receiver, the banking
commissioner is discharged as receiver and remains a party to the
liquidation proceeding with standing to initiate or contest any
motion. The views of the banking commissioner are entitled to
deference unless they are inconsistent with the plain meaning of
this chapter.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.
Section: 35.210 35.211 35.212 35.213 36.001 36.002 36.003 36.004 36.005 36.101 36.102 36.103 36.104 36.105 36.106
Last modified: August 10, 2007
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