Tex.
Bus. & Com. Code Section 17.59
Post Judgment Relief
(a)
If a money judgment entered under this subchapter is unsatisfied 30 days after it becomes final and if the prevailing party has made a good faith attempt to obtain satisfaction of the judgment, the following presumptions exist with respect to the party against whom the judgment was entered:(1)
that the defendant is insolvent or in danger of becoming insolvent; and(2)
that the defendant’s property is in danger of being lost, removed, or otherwise exempted from collection on the judgment; and(3)
that the prevailing party will be materially injured unless a receiver is appointed over the defendant’s business; and(4)
that there is no adequate remedy other than receivership available to the prevailing party.(b)
Subject to the provisions of Subsection (a) of this section, a prevailing party may move that the defendant show cause why a receiver should not be appointed. Upon adequate notice and hearing, the court shall appoint a receiver over the defendant’s business unless the defendant proves that all of the presumptions set forth in Subsection (a) of this section are not applicable.(c)
The order appointing a receiver must clearly state whether the receiver will have general power to manage and operate the defendant’s business or have power to manage only a defendant’s finances. The order shall limit the duration of the receivership to such time as the judgment or judgments awarded under this subchapter are paid in full. Where there are judgments against a defendant which have been awarded to more than one plaintiff, the court shall have discretion to take any action necessary to efficiently operate a receivership in order to accomplish the purpose of collecting the judgments.
Source:
Section 17.59 — Post Judgment Relief, https://statutes.capitol.texas.gov/Docs/BC/htm/BC.17.htm#17.59 (accessed Apr. 20, 2024).
