Texas Utilities Code
§ 34.0108 — RECEIVERSHIP OF DEFAULT GENERATING FACILITY
UT § 34.0108Title 2. PUBLIC UTILITY REGULATORY ACT · Part B. ELECTRIC UTILITIES · Ch. 34. FACILITY FUNDING · Art. A. TEXAS ENERGY FUND; GRANTS AND LOANS
Statute text
View on source(a)In this section, "default" means:
(1)default in payment of the principal of or interest on a loan; or
(2)a failure to perform any of the terms of a loan.
(b)The state, including the commission, the advisory committee, and the trust company, may not retain an ownership interest in a project or facility for which a loan is provided under this chapter.
(c)In the event of a default on a loan made under this chapter, at the request of the commission, the attorney general shall bring suit in a district court in Travis County for the appointment of a receiver to collect the assets and carry on the business of a loan recipient if the action is necessary to cure a default by the recipient.
(d)The court shall vest a receiver appointed by the court with any power or duty the court finds necessary to cure the default, including the power or duty to:
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Legislative history
Added by Acts 2023, 88th Leg., R.S., Ch. 465 (S.B. 2627), Sec. 2, eff. November 7, 2023.