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Texas Business Organizations Code

§ 11.408 — SUPERVISING COURT; JURISDICTION; AUTHORITY

BO § 11.408Title 1. GENERAL PROVISIONS · Ch. 11. WINDING UP AND TERMINATION OF DOMESTIC ENTITY · Art. I. RECEIVERSHIP

Statute text

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(a)A court supervising a receivership under this subchapter may, from time to time:
(1)make allowances to a receiver or attorney in the proceeding; and
(2)direct the payment of a receiver or attorney from the property of the domestic entity that is within the scope of the receivership or the proceeds of any sale or disposition of that property.
(b)A court that appoints a receiver under this subchapter for the property or business of a domestic entity has exclusive jurisdiction over the domestic entity and all of its property, regardless of where the property is located.

Legislative history

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

Source: Texas Business Organizations Code § 11.408 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.