Sec. 36.310. PAYMENT OF CLAIM. (a) Except as expressly provided otherwise by this subchapter or Subchapter C, without the approval of the court the receiver may not make a payment on a claim, other than a claim for an obligation incurred by the receiver for administrative expenses. (b) The receiver may periodically make partial distribution to the holders of approved claims if: (1) all objections have been heard and decided as provided by Section 36.308 ; (2) the time for filing appeals has expired as provided by Section 36.309 ; and (3) a proper reserve is established for the pro rata payment of: (A) rejected claims that have been appealed; and (B) any claims based on unliquidated or undetermined demands governed by Section 36.305 . (c) As soon as practicable after the determination of all objections, appeals, and claims based on previously unliquidated or undetermined demands governed by Section 36.305 , the receiver shall distribute the assets of the bank in satisfaction of approved claims other than claims asserted in a person's capacity as a shareholder.
‹ Prev All Texas sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.