Texas Finance Code
§ 186.301 — FILING CLAIM
FI § 186.301Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part F. TRUST COMPANIES · Ch. 186. DISSOLUTION AND RECEIVERSHIP · Art. D. CLAIMS AGAINST RECEIVERSHIP ESTATE
Statute text
View on source(a)This section applies only to a claim by a person, other than a shareholder, participant, or participant-transferee acting in that capacity, who has a claim against a state trust company in liquidation, including a claimant with a secured claim or a claimant under a fiduciary relationship that has been ordered by the receiver to file a claim pursuant to Section 186.223.
(b)To receive payment of a claim, the person must present proof of the claim to the receiver:
(1)at a place specified by the receiver; and
(2)within the period specified by the receiver under Section 186.205.
(c)Receipt of the required proof of claim by the receiver is a condition precedent to the payment of the claim.
(d)A claim that is not filed within the period specified by the receiver may not participate in a distribution of the assets by the receiver, except that, subject to court approval, the receiver may accept a claim filed not later than the 180th day after the date notice of the claimant's right to file a proof of claim is mailed to the claimant.
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Legislative history
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.