Texas Finance Code

§ 186.001 — DEFINITION

FI § 186.001Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part F. TRUST COMPANIES · Ch. 186. DISSOLUTION AND RECEIVERSHIP · Art. A. GENERAL PROVISIONS

Statute text

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In this chapter, "administrative expense" means:

(1)an expense designated as an administrative expense by Subchapter C or D;

(2)court costs and expenses of operation and liquidation of a state trust company estate;

(3)wages owed to an employee of a state trust company for services rendered within three months before the date the state trust company was closed for liquidation and not exceeding:

(A)$2,000 to each employee; or

(B)another amount set by rules adopted under this subtitle;

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Legislative history

Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.