Tex. Fin. Code Section 186.215
Executory Contract; Oral Agreement

(a)

Not later than six months after the date the receivership proceeding begins, the receiver may terminate any executory contract to which the state trust company is a party or any obligation of the state trust company as a lessee. A lessor who receives notice of the receiver’s election to terminate the lease before the 60th day before the termination date is not entitled to rent or damages for termination, other than rent accrued to the date of termination.

(b)

An agreement that tends to diminish or defeat the interest of the estate in a state trust company asset is not valid against the receiver unless the agreement:

(1)

is in writing;

(2)

was executed by the state trust company and any person claiming an adverse interest under the agreement, including the obligor, when the state trust company acquired the asset;

(3)

was approved by the board of the state trust company or its designated committee, and the approval is reflected in the minutes of the board or committee; and

(4)

has been continuously since its execution an official record of the state trust company.
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.

Source: Section 186.215 — Executory Contract; Oral Agreement, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­186.­htm#186.­215 (accessed May 26, 2025).

186.001
Definition 186.002
Remedies Exclusive 186.003
Federal Deposit Insurance Corporation as Liquidator 186.004
Appointment of Independent Receiver 186.005
Succession of Trust Powers 186.101
Initiating Voluntary Dissolution 186.102
Filing Resolutions with Banking Commissioner 186.103
Banking Commissioner Investigation and Consent 186.104
Notice of Pending Dissolution 186.105
Safe Deposits and Other Bailments 186.106
Offices to Remain Open 186.107
Fiduciary Activities 186.108
Final Liquidation 186.109
Application of Law to State Trust Company in Dissolution 186.110
Authorization of Deviation from Procedures 186.111
Closure by Banking Commissioner for Involuntary Dissolution and Liquidation 186.112
Application for New Charter 186.201
Action to Close State Trust Company 186.202
Notice and Effect of Closure 186.203
Nature and Duration of Receivership 186.204
Contest of Liquidation 186.205
Notice of State Trust Company Closing 186.206
Inventory 186.207
Receiver’s Title and Priority 186.208
Rights Fixed 186.209
Depositories 186.210
Pending Lawsuit 186.211
New Lawsuit 186.212
Obtaining Record or Other Property in Possession of Other Person 186.213
Injunction in Aid of Liquidation 186.214
Subpoena 186.215
Executory Contract 186.216
Preferences 186.217
Employees of Receiver 186.218
Disposal of Property 186.219
Court Order 186.220
Receiver’s Reports 186.221
Court-ordered Audit 186.222
Safe Deposits and Other Bailments 186.223
Fiduciary Activities 186.224
Disposition and Maintenance of Records 186.225
Records Admitted 186.226
Resumption of Business 186.227
Assets Discovered After Close of Receivership 186.301
Filing Claim 186.302
Proof of Claim 186.303
Judgment as Proof of Claim 186.304
Secured Claim 186.305
Unliquidated or Undetermined Claim 186.306
Set-off 186.307
Action on Claim 186.308
Objection to Approved Claim 186.309
Appeal of Rejected Claim 186.310
Payment of Claim 186.311
Priority of Claims Against Insured State Trust Company 186.312
Priority of Claims Against Uninsured State Trust Company 186.313
Excess Assets 186.314
Unclaimed Property
Green check means up to date. Up to date

Verified:
May 26, 2025

§ 186.215. Executory Contract; Oral Agreement's source at texas​.gov