Tex.
Fin. Code Section 186.301
Filing Claim
(a)
This section applies only to a claim by a person, other than a shareholder, participant, or participant-transferee acting in that capacity, who has a claim against a state trust company in liquidation, including a claimant with a secured claim or a claimant under a fiduciary relationship that has been ordered by the receiver to file a claim pursuant to Section 186.223 (Fiduciary Activities).(b)
To receive payment of a claim, the person must present proof of the claim to the receiver:(1)
at a place specified by the receiver; and(2)
within the period specified by the receiver under Section 186.205 (Notice of State Trust Company Closing).(c)
Receipt of the required proof of claim by the receiver is a condition precedent to the payment of the claim.(d)
A claim that is not filed within the period specified by the receiver may not participate in a distribution of the assets by the receiver, except that, subject to court approval, the receiver may accept a claim filed not later than the 180th day after the date notice of the claimant’s right to file a proof of claim is mailed to the claimant.(e)
A claim accepted under this section and approved is subordinate to an approved claim of a general creditor.(f)
Interest does not accrue on a claim after the date the state trust company is closed for liquidation.
Source:
Section 186.301 — Filing Claim, https://statutes.capitol.texas.gov/Docs/FI/htm/FI.186.htm#186.301 (accessed Jun. 5, 2024).
