Texas Business Organizations Code

§ 11.406 — RECEIVERS: QUALIFICATIONS, POWERS, AND DUTIES

BO § 11.406Title 1. GENERAL PROVISIONS · Ch. 11. WINDING UP AND TERMINATION OF DOMESTIC ENTITY · Art. I. RECEIVERSHIP

(a)A receiver appointed under this chapter:

(1)must be an individual citizen of the United States or an entity authorized to act as receiver;

(2)shall give a bond in the amount required by the court and with any sureties as may be required by the court;

(3)may sue and be sued in the receiver's name in any court;

(4)has the powers and duties provided by other laws applicable to receivers; and

(5)has the powers and duties that are stated in the order appointing the receiver or that the appointing court:

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Legislative history

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.