Tex. Fin. Code Section 36.203
Nature and Duration of Receivership


(a)

The court may not require a bond from the banking commissioner as receiver.

(b)

A reference in this chapter to the receiver is a reference to the banking commissioner as receiver and to any successor in office, the Federal Deposit Insurance Corporation if acting as receiver as provided by Section 36.003 (Federal Deposit Insurance Corporation as Liquidator) and federal law, or an independent receiver appointed at the request of the banking commissioner as provided by Section 36.004 (Appointment of Independent Receiver).

(c)

The receiver has all the powers of the directors, officers, and shareholders of the bank as necessary to support an action taken on behalf of the bank.

(d)

The receiver and all employees and agents acting on behalf of the receiver are acting in an official capacity and are protected by Section 12.106 (Liability). An act of the receiver is an act of the bank in liquidation. This state or a political subdivision of this state is not liable and may not be held accountable for any debt or obligation of a state bank in receivership.

(e)

Section 64.072 (Limited Duration), Civil Practice and Remedies Code, applies to the receivership of a bank except as provided by this subsection. A bank receivership shall be administered continuously for the length of time necessary to complete its purposes, and a period prescribed by other law limiting the time for the administration of a receivership or of corporate affairs generally, including Section 64.072 (Limited Duration)(d), Civil Practice and Remedies Code, does not apply.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 53, eff. September 1, 2007.

Source: Section 36.203 — Nature and Duration of Receivership, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­36.­htm#36.­203 (accessed Jun. 5, 2024).

36.001
Definition
36.002
Remedies Exclusive
36.003
Federal Deposit Insurance Corporation as Liquidator
36.004
Appointment of Independent Receiver
36.005
Succession of Trust Powers
36.101
Initiating Voluntary Dissolution
36.102
Filing Resolutions with Banking Commissioner
36.103
Banking Commissioner Investigation and Consent
36.104
Notice of Pending Dissolution
36.105
Safe Deposits and Other Bailments
36.106
Offices to Remain Open
36.107
Fiduciary Activities
36.108
Final Liquidation
36.109
Application of Law to Bank in Dissolution
36.110
Authorization of Deviation from Procedures
36.111
Closure by Banking Commissioner for Involuntary Dissolution and Liquidation
36.112
Application for New Charter
36.201
Action to Close State Bank
36.202
Notice and Effect of Closure
36.203
Nature and Duration of Receivership
36.204
Contest of Liquidation
36.205
Notice of Bank Closing
36.206
Inventory
36.207
Receiver’s Title and Priority
36.208
Rights Fixed
36.209
Depositories
36.210
Pending Lawsuit
36.211
New Lawsuit
36.212
Requiring Record or Other Property in Possession of Other Person
36.213
Injunction in Aid of Liquidation
36.214
Subpoena
36.215
Executory Contract
36.216
Preferences
36.217
Employees of Receiver
36.218
Disposal of Property
36.219
Court Order
36.220
Receiver’s Report
36.221
Court-ordered Audit
36.222
Safe Deposits and Other Bailments
36.223
Fiduciary Activities
36.224
Disposition and Maintenance of Records
36.225
Records Admitted
36.226
Resumption of Business
36.227
Assets Discovered After Close of Receivership
36.301
Filing Claim
36.302
Proof of Claim
36.303
Judgment as Proof of Claim
36.304
Secured Claim
36.305
Unliquidated or Undetermined Claim
36.306
Set-off
36.307
Action on Claim
36.308
Objection to Approved Claim
36.309
Appeal of Rejected Claim
36.310
Payment of Claim
36.311
Priority of Claims Against Insured Bank
36.312
Priority of Claims Against Uninsured Bank
36.313
Excess Assets
36.314
Unclaimed Property

Accessed:
Jun. 5, 2024

§ 36.203’s source at texas​.gov