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Texas Civil Practice and Remedies Code

§ 64.074 — CLAIMS PREFERENCE AGAINST CURRENT EARNINGS

CP § 64.074Title 3. EXTRAORDINARY REMEDIES · Ch. 64. RECEIVERSHIP · Art. E. PROVISIONS RELATING TO RECEIVERSHIP OF CORPORATIONS

Statute text

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A judgment or claim existing against a corporation at the time the receiver is appointed or a judgment in an action existing at that time shall be paid out of the earnings of the corporation earned during the receivership in preference to the mortgage of a mortgagee who instituted the receivership. The judgment or claim is a lien on those earnings.

Legislative history

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

Source: Texas Civil Practice and Remedies Code § 64.074 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.