Court Opinions

State Laws

US Code

US Constitution

Texas Finance Code - Section 36.307. Action On Claim

Legal Research Home > Texas Lawyer > Finance Code > Texas Finance Code - Section 36.307. Action On Claim

§ 36.307. ACTION ON CLAIM.  (a) Not later than six months 
after the last day permitted for the filing of claims or a later 
date allowed by the court, the receiver shall accept or reject in 
whole or in part each filed claim against the bank in liquidation, 
except for an unliquidated or undetermined claim governed by 
Section 36.305.  The receiver shall reject a claim if the receiver 
doubts its validity.
	(b)  The receiver shall mail written notice to each claimant 
specifying the disposition of the person's claim.  If a claim is 
rejected in whole or in part, the receiver in the notice shall 
specify the basis for rejection and advise the claimant of the 
procedures and deadline for appeal.
	(c)  The receiver shall send each claimant a summary schedule 
of approved and rejected claims by priority class and notify the 
claimant:
		(1)  that a copy of a schedule of claims disposition 
including only the name of the claimant, the amount of the claim 
allowed, and the amount of the claim rejected is available on 
request;  and
		(2)  of the procedure and deadline for filing an 
objection to an approved claim.
	(d)  The receiver or an agent or employee of the receiver, 
including an employee of the department, is not liable, and a cause 
of action may not be brought against the person, for an action taken 
or not taken by the person relating to the adjustment, negotiation, 
or settlement of a claim.

Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.                   

Last modified: August 10, 2007