Texas Finance Code

§ 36.001 — DEFINITION

FI § 36.001Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part A. BANKS · Ch. 36. 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 bank estate;

(3)wages owed to an employee of a bank for services rendered within three months before the date the bank 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

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.