Texas Finance Code - Section 36.305. Unliquidated Or Undetermined Claim
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Texas Lawyer > Finance Code > Texas Finance Code - Section 36.305. Unliquidated Or Undetermined Claim
§ 36.305. UNLIQUIDATED OR UNDETERMINED CLAIM. (a) A
claim based on an unliquidated or undetermined demand shall be
filed within the period provided by Subchapter C for the filing of
a claim. The claim may not share in any distribution to claimants
until the claim is definitely liquidated, determined, and allowed.
After the claim is liquidated, determined, and allowed, the claim
shares ratably with the claims of the same class in all subsequent
distributions.
(b) For purposes of this section, a demand is considered
unliquidated or undetermined if the right of action on the demand
accrued while the bank was closed for liquidation and the liability
on the demand has not been determined or the amount of the demand
has not been liquidated.
(c) If the receiver in all other respects is in a position to
close the receivership proceeding, the proposed closing is
sufficient grounds for the rejection of any remaining claim based
on an unliquidated or undetermined demand. The receiver shall
notify the claimant of the intention to close the proceeding. If
the demand is not liquidated or determined before the 61st day after
the date of the notice, the receiver may reject the claim.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.
Section: 36.225 36.226 36.227 36.301 36.302 36.303 36.304 36.305 36.306 36.307 36.308 36.309 36.310 36.311 36.312
Last modified: August 10, 2007
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