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Texas Civil Practice and Remedies Code

§ 64.035 — DEPOSIT OF CERTAIN RAILROAD FUNDS

CP § 64.035Title 3. EXTRAORDINARY REMEDIES · Ch. 64. RECEIVERSHIP · Art. C. POWERS AND DUTIES

Statute text

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If a receiver operates a railroad that lies wholly within this state, the receiver shall deposit all money that comes into his hands, from operation of the railroad or otherwise, in a place in this state directed by the court. The money shall remain on deposit until properly disbursed. If any portion of the railroad lies in another state, the court shall require the receiver to deposit in this state a share of the funds that is at least proportionate to the value of the property of the company in this state.

Legislative history

Acts 1985, 69th Leg., ch. 959, Sec. 1, eff. Sept. 1, 1985.

Source: Texas Civil Practice and Remedies Code § 64.035 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.