Sec. 14.014. RECEIVERSHIP AFFECTING WAREHOUSE ASSETS. (a) A person appointed receiver for the assets of a warehouse operator licensed under this chapter is not required to obtain a license from the department if the person: (1) is bonded and insured as described by Subsection (b); and (2) after being appointed, does not: (A) receive additional grain for storing for hire, handling for hire, or shipping for hire; or (B) purchase grain for resale. (b) A person appointed receiver shall maintain: (1) a bond in the same amount required for a licensed warehouse operator; and (2) casualty insurance in the same amount and type as required for a licensed warehouse operator. (c) A person appointed receiver shall file proof of proper bonding and verification of insurance with the department on or before the date the person is appointed to act as receiver.
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