Texas Finance Code - Section 36.220. Receiver's Report; Expenses
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Texas Lawyer > Finance Code > Texas Finance Code - Section 36.220. Receiver's Report; Expenses
§ 36.220. RECEIVER'S REPORT; EXPENSES. (a) The receiver
shall file with the court:
(1) a quarterly report showing the operation,
receipts, expenditures, and general condition of the bank in
liquidation; and
(2) a final report regarding the liquidated bank
showing all receipts and expenditures and giving a full explanation
and a statement of the disposition of all assets of the bank.
(b) The receiver shall pay all administrative expenses out
of money or other assets of the bank. Each quarter the receiver
shall swear to and submit an itemized report of those expenses. The
court shall approve the report unless an objection is filed before
the 11th day after the date it is submitted. An objection may be
made only by a party in interest and must specify each item objected
to and the ground for the objection. The court shall set the
objection for hearing and notify the parties of this action. The
objecting party has the burden of proof to show that the item
objected to is improper, unnecessary, or excessive.
(c) The court may prescribe whether the notice of the
receiver's report is to be given by service on specific parties, by
publication, or by a combination of those methods.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.
Section: 36.213 36.214 36.215 36.216 36.217 36.218 36.219 36.220 36.221 36.222 36.223 36.224 36.225 36.226 36.227
Last modified: August 10, 2007
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