Texas Finance Code - Section 36.310. Payment Of Claim
Legal Research Home >
Texas Lawyer > Finance Code > Texas Finance Code - Section 36.310. Payment Of Claim
§ 36.310. PAYMENT OF CLAIM. (a) Except as expressly
provided otherwise by this subchapter or Subchapter C, without the
approval of the court the receiver may not make a payment on a
claim, other than a claim for an obligation incurred by the receiver
for administrative expenses.
(b) The receiver may periodically make partial distribution
to the holders of approved claims if:
(1) all objections have been heard and decided as
provided by Section 36.308;
(2) the time for filing appeals has expired as
provided by Section 36.309; and
(3) a proper reserve is established for the pro rata
payment of:
(A) rejected claims that have been appealed; and
(B) any claims based on unliquidated or
undetermined demands governed by Section 36.305.
(c) As soon as practicable after the determination of all
objections, appeals, and claims based on previously unliquidated or
undetermined demands governed by Section 36.305, the receiver shall
distribute the assets of the bank in satisfaction of approved
claims other than claims asserted in a person's capacity as a
shareholder, participant, or participant-transferee.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.
Section: 36.303 36.304 36.305 36.306 36.307 36.308 36.309 36.310 36.311 36.312 36.313 36.314 37.001 37.002 37.003
Last modified: August 10, 2007
|
