Texas Finance Code

§ 36.310 — PAYMENT OF CLAIM

FI § 36.310Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part A. BANKS · Ch. 36. DISSOLUTION AND RECEIVERSHIP · Art. D. CLAIMS AGAINST RECEIVERSHIP ESTATE

Statute text

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(a)Except as expressly provided otherwise by this subchapter or Subchapter C, without the approval of the court the receiver may not make a payment on a claim, other than a claim for an obligation incurred by the receiver for administrative expenses.

(b)The receiver may periodically make partial distribution to the holders of approved claims if:

(1)all objections have been heard and decided as provided by Section 36.308;

(2)the time for filing appeals has expired as provided by Section 36.309; and

(3)a proper reserve is established for the pro rata payment of:

(A)rejected claims that have been appealed; and

…

Legislative history

Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 61, eff. September 1, 2007.