Tex. Business Organizations Code § 21.762
This is the official text of Tex. Business Organizations Code § 21.762, part of Texas’s Business Organizations Code — governs the formation and operation of corporations, LLCs, and partnerships.
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§ 21.762. POWERS AND DUTIES OF CUSTODIAN.
Official statutory text
A person who qualifies as a custodian has all of the powers and duties and the title of a receiver appointed under Sections 11.404-11.406. The custodian shall continue the business of the close corporation and may not liquidate the affairs or distribute the assets of the close corporation, except as provided by court order or Section 21.761(a)(3).
Status: in_force · Read it on the official government site
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