Tex. Finance Code § 36.310
This is the official text of Tex. Finance Code § 36.310, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 36.310. PAYMENT OF CLAIM.
Official statutory text
(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.
(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.
Status: in_force · Read it on the official government site
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