reglab/housing_qa huggingface dataset:
TX Fin Code § 186.209 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 186 - Dissolution and Receivership|Subchapter C. Involuntary Dissolution and Liquidation|Section 186.209. Depositories

Sec. 186.209.  DEPOSITORIES.  (a)  The receiver may deposit money collected on behalf of the state trust company estate in:(1)  the Texas Treasury Safekeeping Trust Company in accordance with procedures established by the comptroller;  or(2)  one or more depository institutions in this state, the deposits of which are insured by the Federal Deposit Insurance Corporation or its successor, if the receiver, using sound financial judgment, determines that it would be advantageous to do so.(b)  If receivership money deposited in an account at a state bank exceeds the maximum insured amount, the receiver shall require the excess deposit to be adequately secured through pledge of securities or otherwise, without approval of the court.  The depository bank may secure the deposits of the state trust company in liquidation on behalf of the receiver, notwithstanding any other provision of this subtitle.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.|
TX Fin Code § 186.210 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 186 - Dissolution and Receivership|Subchapter C. Involuntary Dissolution and Liquidation|Section 186.210. Pending Lawsuit

Sec. 186.210.  PENDING LAWSUIT.  (a)  A judgment or order of a court of this state or of another jurisdiction in an action pending by or against the state trust company, rendered after the date the state trust company was closed for liquidation, is not binding on the receiver unless the receiver was made a party to the suit.(b)  Before the first anniversary of the date the state trust company was closed for liquidation, the receiver may not be required to plead to any suit pending against the state trust company in a court in this state on the date the state trust company was closed for liquidation and in which the receiver is a proper plaintiff or defendant.(c)  Sections 64.052, 64.053, and 64.056, Civil Practice and Remedies Code, do not apply to a state trust company estate being administered under this subchapter and Subchapter D.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.|
TX Fin Code § 186.211 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 186 - Dissolution and Receivership|Subchapter C. Involuntary Dissolution and Liquidation|Section 186.211. New Lawsuit

Sec. 186.211.  NEW LAWSUIT.  (a)  Except as otherwise provided by this section, the court in which a receivership proceeding is pending under this subchapter has exclusive jurisdiction to hear and determine all actions or proceedings instituted by or against the state trust company or receiver after the receivership proceeding begins.(b)  The receiver may file in any jurisdiction an ancillary suit that may be helpful to obtain jurisdiction or venue over a person or property.(c)  Exclusive venue lies in Travis County for an action or proceeding instituted against the receiver or the receiver's employee, including an employee of the department, that asserts personal liability on the part of the receiver or employee.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.|
TX Fin Code § 186.212 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 186 - Dissolution and Receivership|Subchapter C. Involuntary Dissolution and Liquidation|Section 186.212. Obtaining Record or Other Property in Possession of Other Person

Sec. 186.212.  OBTAINING RECORD OR OTHER PROPERTY IN POSSESSION OF OTHER PERSON.  (a)  Each state trust company affiliate, officer, director, manager, managing participant, employee, shareholder, participant, participant-transferee, trustee, agent, servant, employee, attorney, attorney-in-fact, or correspondent shall immediately deliver to the receiver, without cost to the receiver, any record or other property of the state trust company or that relates to the business of the state trust company.(b)  If by contract or otherwise a record or other property that can be copied is the property of a person listed in Subsection (a), it shall be copied and the copy shall be delivered to the receiver.  The owner shall retain the original until notification by the receiver that it is no longer required in the administration of the state trust company's estate or until another time the court, after notice and hearing, directs.  The copy is considered to be a record of the state trust company in liquidation under Section 186.225.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.|
TX Fin Code § 186.213 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 186 - Dissolution and Receivership|Subchapter C. Involuntary Dissolution and Liquidation|Section 186.213. Injunction in Aid of Liquidation

Sec. 186.213.  INJUNCTION IN AID OF LIQUIDATION.  (a)  On application by the receiver, the court with or without notice may issue an injunction:(1)  restraining each state trust company officer, director, manager, managing participant, employee, shareholder, participant, participant-transferee, trustee, agent, servant, employee, attorney, attorney-in-fact, accountant or accounting firm, correspondent, or other person from transacting the state trust company's business or wasting or disposing of its property;  or(2)  requiring the delivery of the state trust company's property or assets to the receiver subject to the further order of the court.(b)  At any time during a proceeding under this subchapter, the court may issue another injunction or order considered necessary or desirable to prevent:(1)  interference with the receiver or the proceeding;(2)  waste of the assets of the state trust company;(3)  the beginning or prosecution of an action;(4)  the obtaining of a preference, judgment, attachment, garnishment, or other lien;  or(5)  the making of a levy against the state trust company or against its assets.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.|
TX Fin Code § 186.214 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 186 - Dissolution and Receivership|Subchapter C. Involuntary Dissolution and Liquidation|Section 186.214. Subpoena

Sec. 186.214.  SUBPOENA.  (a)  The receiver may request the court ex parte to issue a subpoena to compel the attendance and testimony of a witness before the receiver and the production of a record relating to the receivership estate.  For that purpose the receiver or the receiver's designated representative may administer an oath or affirmation, examine a witness, or receive evidence.  The court has statewide subpoena power and may compel attendance and production of a record before the receiver at the state trust company, the office of the receiver, or another location.(b)  A person served with a subpoena under this section may file a motion with the court for a protective order as provided by Rule 166b, Texas Rules of Civil Procedure.  In a case of disobedience of a subpoena or the contumacy of a witness appearing before the receiver or the receiver's designated representative, the receiver may request and the court may issue an order requiring the person subpoenaed to obey the subpoena, give evidence, or produce a record relating to the matter in question.(c)  A witness who is required to appear before the receiver is entitled to receive:(1)  reimbursement for mileage, in the amount for travel by a state employee, for traveling to or returning from a proceeding that is more than 25 miles from the witness's residence;  and(2)  a fee for each day or part of a day the witness is necessarily present as a witness in an amount set by the receiver with the approval of the court of not less than $10 a day and not more than an amount equal to the per diem travel allowance of a state employee.(d)  A payment of fees under Subsection (c) is an administrative expense.(e)  The receiver may serve the subpoena or have it served by the receiver's authorized agent, a sheriff, or a constable.  The sheriff's or constable's fee for serving a subpoena must be the same as the fee paid the sheriff or constable for similar services.(f)  A subpoena issued under this section to a financial institution is not subject to Section 59.006.(g)  On certification by the receiver under official seal, a record produced or testimony taken as provided by this section and held by the receiver is admissible in evidence in any case without proof of its correctness or other proof, except the certificate of the receiver that the record or testimony was received from the person producing the record or testifying.  The certified record or a certified copy of the record is prima facie evidence of the facts it contains.  This section does not limit another provision of this subchapter, Subchapter D, or another law that provides for the admission of evidence or its evidentiary value.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.  Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 6.103(f), eff. Sept. 1, 2001.|
TX Fin Code § 186.215 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 186 - Dissolution and Receivership|Subchapter C. Involuntary Dissolution and Liquidation|Section 186.215. Executory Contract; Oral Agreement

Sec. 186.215.  EXECUTORY CONTRACT;  ORAL AGREEMENT.  (a)  Not later than six months after the date the receivership proceeding begins, the receiver may terminate any executory contract to which the state trust company is a party or any obligation of the state trust company as a lessee.  A lessor who receives notice of the receiver's election to terminate the lease before the 60th day before the termination date is not entitled to rent or damages for termination, other than rent accrued to the date of termination.(b)  An agreement that tends to diminish or defeat the interest of the estate in a state trust company asset is not valid against the receiver unless the agreement:(1)  is in writing;(2)  was executed by the state trust company and any person claiming an adverse interest under the agreement, including the obligor, when the state trust company acquired the asset;(3)  was approved by the board of the state trust company or its designated committee, and the approval is reflected in the minutes of the board or committee;  and(4)  has been continuously since its execution an official record of the state trust company.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.|
TX Fin Code § 186.216 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 186 - Dissolution and Receivership|Subchapter C. Involuntary Dissolution and Liquidation|Section 186.216. Preferences

Sec. 186.216.  PREFERENCES.  (a)  A transfer of or lien on the property or assets of a state trust company is voidable by the receiver if the transfer or lien:(1)  was made or created after:(A)  four months before the date the state trust company is closed for liquidation;  or(B)  one year before the date the state trust company is closed for liquidation if the receiving creditor was at the time an affiliate, officer, director, manager, managing participant, principal shareholder, or participant of the state trust company or an affiliate of the trust company;(2)  was made or created with the intent of giving to a creditor or depositor, or enabling a creditor or depositor to obtain, a greater percentage of the claimant's debt than is given or obtained by another claimant of the same class;  and(3)  is accepted by a creditor or depositor having reasonable cause to believe that a preference will occur.(b)  Each state trust company officer, director, manager, managing participant, employee, shareholder, participant, participant-transferee, trustee, agent, servant, employee, attorney-in-fact, or correspondent, or other person acting on behalf of the state trust company, who has participated in implementing a voidable transfer or lien, and each person receiving property or the benefit of property of the state trust company as a result of the voidable transfer or lien, is personally liable for the property or benefit received and shall account to the receiver for the benefit of the clients and creditors of the state trust company.(c)  The receiver may avoid a transfer of or lien on the property or assets of a state trust company that a client, creditor, shareholder, participant, or participant-transferee of the state trust company could have avoided and may recover the property transferred or its value from the person to whom it was transferred or from a person who has received it unless the transferee or recipient was a bona fide holder for value before the date the state trust company was closed for liquidation.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.|
TX Fin Code § 186.217 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 186 - Dissolution and Receivership|Subchapter C. Involuntary Dissolution and Liquidation|Section 186.217. Employees of Receiver

Sec. 186.217.  EMPLOYEES OF RECEIVER.  The receiver may employ agents, legal counsel, accountants, appraisers, consultants, and other personnel the receiver considers necessary to assist in the performance of the receiver's duties.  The receiver may use personnel of the department if the receiver considers the use to be advantageous or desirable.  The expense of employing those persons is an administrative expense.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.|
TX Fin Code § 186.218 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 186 - Dissolution and Receivership|Subchapter C. Involuntary Dissolution and Liquidation|Section 186.218. Disposal of Property; Settling of Claim

Sec. 186.218.  DISPOSAL OF PROPERTY;  SETTLING OF CLAIM.  (a)  In liquidating a state trust company, the receiver on order of the court entered with or without hearing may:(1)  sell all or part of the property of the state trust company;(2)  borrow money and pledge all or part of the assets of the state trust company to secure the debt created, except that the receiver may not be held personally liable to repay borrowed funds;(3)  compromise or compound a doubtful or uncollectible debt or claim owed by or owing to the state trust company;  and(4)  enter another agreement on behalf of the state trust company 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 state trust company or the value of an item of property of the trust company 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 interest of the state trust company estate without obtaining the approval of the court.(c)  With the approval of the court, the receiver may sell or offer or agree to sell an asset of the state trust company, other than a fiduciary asset, to a depositor or creditor of the state trust company.  Payment may be in whole or in part out of distributions payable to the purchasing creditor or depositor on account of an approved claim against the state trust company's estate.  On application by the receiver, the court may designate one or more representatives to act for certain clients 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.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.|
TX Fin Code § 186.219 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 186 - Dissolution and Receivership|Subchapter C. Involuntary Dissolution and Liquidation|Section 186.219. Court Order; Notice and Hearing

Sec. 186.219.  COURT ORDER;  NOTICE AND HEARING.  If the court requires notice and hearing before entering an order, the court shall set the time and place of the hearing and prescribe whether the notice is to be given by service on specific parties, by publication, or by a combination of those methods.  The court may not enter an order requested by a person other than the receiver without notice to the receiver and an opportunity for the receiver to be heard.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.|
TX Fin Code § 186.220 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 186 - Dissolution and Receivership|Subchapter C. Involuntary Dissolution and Liquidation|Section 186.220. Receiver's Reports; Expenses

Sec. 186.220.  RECEIVER'S REPORTS;  EXPENSES.  (a)  The receiver shall file with the court:(1)  a quarterly report showing the operation, receipts, expenditures, and general condition of the state trust company in liquidation;  and(2)  a final report regarding the liquidated state trust company showing all receipts and expenditures and giving a full explanation and a statement of the disposition of all assets of the state trust company.(b)  The receiver shall pay all administrative expenses out of money or other assets of the state trust company.  Each quarter the receiver shall swear to and submit to the court an itemized report of those expenses.  The court shall approve the report unless an objection is filed before the 11th day after the date it is submitted.  An objection may be made only by a party in interest and must specify each item objected to and the ground for the objection.  The court shall set the objection for hearing and notify the parties of this action.  The objecting party has the burden of proof to show that the item objected to is improper, unnecessary, or excessive.(c)  The court may prescribe whether the notice of the receiver's report is to be given by service on specific parties, by publication, or by a combination of those methods.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.|
TX Fin Code § 186.221 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 186 - Dissolution and Receivership|Subchapter C. Involuntary Dissolution and Liquidation|Section 186.221. Court-Ordered Audit

Sec. 186.221.  COURT-ORDERED AUDIT.  (a)  The court may order an audit of the books and records of the receiver that relate to the receivership.  A report of an audit ordered under this section shall be filed with the court.  The receiver shall make the books and records relating to the receivership available to the auditor as required by the court order.(b)  The receiver shall pay the expenses of an audit ordered under this section as an administrative expense.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.|
TX Fin Code § 186.222 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 186 - Dissolution and Receivership|Subchapter C. Involuntary Dissolution and Liquidation|Section 186.222. Safe Deposits and Other Bailments

Sec. 186.222.  SAFE DEPOSITS AND OTHER BAILMENTS.  (a)  A contract between the state trust company and another person for bailment, of deposit for hire, or for the lease of a safe, vault, or box ceases on the date specified for removal of property in the notices that were published and mailed or a later date approved by the receiver or the court.  A person who has paid rental or storage charges for a period extending beyond the date designated for removal of property has a claim against the state trust company estate for a refund of the unearned amount paid.(b)  If the property is not removed by the date the contract ceases, the receiver shall inventory the property.  In making the inventory, the receiver may open a safe, vault, or box, or any package, parcel, or receptacle, in the custody or possession of the receiver.  The property shall be marked to identify, to the extent possible, its owner or the person who left it with the state trust company.  After all property belonging to others that is in the receiver's custody and control has been inventoried, the receiver shall compile a master list that is divided for each office of the state trust company that received property that remains unclaimed.  The receiver shall publish, in a newspaper of general circulation in each community in which the state trust company had an office that received property that remains unclaimed, the list and the names of the owners of the property as shown in the state trust company's records.  The published notice shall specify a procedure for claiming the property unless the court, on application of the receiver, approves an alternate procedure.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.|
TX Fin Code § 186.223 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle F - Trust Companies|Chapter 186 - Dissolution and Receivership|Subchapter C. Involuntary Dissolution and Liquidation|Section 186.223. Fiduciary Activities

Sec. 186.223.  FIDUCIARY ACTIVITIES.  (a)  As soon after beginning the receivership proceeding as is practicable, the receiver shall:(1)  terminate all fiduciary positions the state trust company holds;(2)  surrender all property held by the state trust company as a fiduciary;  and(3)  settle the state trust company's fiduciary accounts.(b)  The receiver shall release all segregated and identifiable fiduciary property held by the state trust company to successor fiduciaries.(c)  With the approval of the court, the receiver may sell the administration of all or substantially all remaining fiduciary accounts to one or more successor fiduciaries on terms that appear to be in the best interest of the state trust company's estate and the persons interested in the fiduciary accounts.(d)  If commingled fiduciary money held by the state trust company as trustee is insufficient to satisfy all fiduciary claims to the commingled money, the receiver shall distribute commingled money pro rata to all fiduciary claimants of commingled money based on their proportionate interests after payment of administrative expenses related solely to the fiduciary claims.  The fictional tracing rule does not apply.(e)  The receiver may require a fiduciary claimant to file a proof of claim if the records of the state trust company are insufficient to identify the claimant's interest.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.|