Tex. Fin. Code Section 36.218
Disposal of Property; Settling of Claim


(a)

In liquidating a bank, the receiver on order of the court entered with or without hearing may:

(1)

sell all or part of the property of the bank;

(2)

borrow money and pledge all or part of the assets of the bank to secure the debt created, except that the receiver may not be held personally liable to repay borrowed money;

(3)

compromise or compound a doubtful or uncollectible debt or claim owed by or owing to the bank; and

(4)

enter another agreement on behalf of the bank that the receiver considers necessary or proper to the management, conservation, or liquidation of its assets.

(b)

If the amount of a debt or claim owed by or owing to the bank or the value of an item of property of the bank does not exceed $20,000, excluding interest, the receiver may compromise or compound the debt or claim or sell the property on terms the receiver considers to be in the best interests of the bank estate without obtaining the approval of the court.

(c)

The receiver may with the approval of the court sell or offer or agree to sell an asset of the bank, other than a fiduciary asset, to a depositor or creditor of the bank. Payment may be in whole or part out of distributions payable to the purchasing depositor or creditor on account of an approved claim against the bank’s estate. On application by the receiver, the court may designate one or more representatives to act for certain depositors or creditors as a class in the purchase, holding, and management of assets purchased by the class under this section, and the receiver may with the approval of the court advance the expenses of the appointed representative against the security of the claims of the class.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

Source: Section 36.218 — Disposal of Property; Settling of Claim, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­36.­htm#36.­218 (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

§ 36.218’s source at texas​.gov