Tex. Finance Code § 36.004
This is the official text of Tex. Finance Code § 36.004, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 36.004. APPOINTMENT OF INDEPENDENT RECEIVER.
Official statutory text
(a) On request of the banking commissioner, the court in which a liquidation proceeding is pending may:
(1) appoint an independent receiver; and
(2) require a suitable bond of the independent receiver.
(b) On appointment of an independent receiver, the banking commissioner is discharged as receiver and remains a party to the liquidation proceeding with standing to initiate or contest any motion. The views of the banking commissioner are entitled to deference unless they are inconsistent with the plain meaning of this chapter.
(1) appoint an independent receiver; and
(2) require a suitable bond of the independent receiver.
(b) On appointment of an independent receiver, the banking commissioner is discharged as receiver and remains a party to the liquidation proceeding with standing to initiate or contest any motion. The views of the banking commissioner are entitled to deference unless they are inconsistent with the plain meaning of this chapter.
Status: in_force · Read it on the official government site
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