Texas Business Organizations Code
Sec. § 11.406
Receivers: Qualifications, Powers, and Duties


(a)

A receiver appointed under this chapter:

(1)

must be an individual citizen of the United States or an entity authorized to act as receiver;

(2)

shall give a bond in the amount required by the court and with any sureties as may be required by the court;

(3)

may sue and be sued in the receiver’s name in any court;

(4)

has the powers and duties provided by other laws applicable to receivers; and

(5)

has the powers and duties that are stated in the order appointing the receiver or that the appointing court:

(A)

considers appropriate to accomplish the objectives for which the receiver was appointed; and

(B)

may increase or diminish at any time during the proceedings.

(b)

To be appointed a receiver under this chapter, a foreign entity must be registered to transact business in this state.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
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Last accessed
Jul. 15, 2020