Texas Business Organizations Code
§ 11.403 — APPOINTMENT OF RECEIVER FOR SPECIFIC PROPERTY
BO § 11.403Title 1. GENERAL PROVISIONS · Ch. 11. WINDING UP AND TERMINATION OF DOMESTIC ENTITY · Art. I. RECEIVERSHIP
Statute text
View on source(a)Subject to Subsection (b), and on the application of a person whose right to or interest in any property or fund or the proceeds from the property or fund is probable, a court that has jurisdiction over specific property of a domestic or foreign entity may appoint a receiver in an action:
(1)by a vendor to vacate a fraudulent purchase of the property;
(2)by a creditor to subject the property or fund to the creditor's claim;
(3)between partners or others jointly owning or interested in the property or fund;
(4)by a mortgagee of the property for the foreclosure of the mortgage and sale of the property, when:
(A)it appears that the mortgaged property is in danger of being lost, removed, or materially injured; or
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Legislative history
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.