Texas Insurance Code - Section 442.114. Payment Of Liquidation Expenses; Objection
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§ 442.114. PAYMENT OF LIQUIDATION EXPENSES;
OBJECTION. (a) The commissioner or special deputy receiver shall
pay the compensation of the special deputy receiver and all other
expenses of a liquidation out of the money or other assets of the
insurer.
(b) Each month, the receiver shall present to the court an
itemized accounting, sworn to by the receiver, of the expenses. The
court shall approve the accounting unless a party at interest files
an objection on or before the 10th day after the date the accounting
is presented. The objection must specify each item to which the
party objects and the ground for that objection.
(c) The court shall set a hearing on an objection filed
under Subsection (b) and shall notify the parties of the hearing.
The objecting party has the burden of proof to show that an item to
which the party objected is improper, unnecessary, or excessive.
Added by Acts 2005, 79th Leg., ch. 727, § 1, eff. April 1, 2007.
Section: 442.107 442.108 442.109 442.110 442.111 442.112 442.113 442.114 442.115 442.116 442.117 442.118 442.119 442.151 442.152
Last modified: August 10, 2007
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