Texas § 11.406 RECEIVERS: QUALIFICATIONS, POWERS, AND DUTIES.

Texas Statutes

§ 11.406 — RECEIVERS: QUALIFICATIONS, POWERS, AND DUTIES.

Texas § 11.406

Code BOBusiness Organizations Code

This text of Texas § 11.406 (RECEIVERS: QUALIFICATIONS, POWERS, AND DUTIES.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Business Organizations Code Code Ann. § 11.406 (2026).

Text

Sec. 11.406. RECEIVERS: QUALIFICATIONS, POWERS, AND DUTIES.

(a)A receiver appointed under this chapter:

(1)must be an individual citizen of the United States or an entity authorized to act as receiver;

(2)shall give a bond in the amount required by the court and with any sureties as may be required by the court;

(3)may sue and be sued in the receiver's name in any court;

(4)has the powers and duties provided by other laws applicable to receivers; and

(5)has the powers and duties that are stated in the order appointing the receiver or that the appointing court:

(A)considers appropriate to accomplish the objectives for which the receiver was appointed; and

(B)may increase or diminish at any time during the proceedings.

(b)To be appointed a receiver under this chapter, a foreign enti

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Sec. 11.406. RECEIVERS: QUALIFICATIONS, POWERS, AND DUTIES. (a) A receiver appointed under this chapter:
(1) must be an individual citizen of the United States or an entity authorized to act as receiver;
(2) shall give a bond in the amount required by the court and with any sureties as may be required by the court;
(3) may sue and be sued in the receiver's name in any court;
(4) has the powers and duties provided by other laws applicable to receivers; and
(5) has the powers and duties that are stated in the order appointing the receiver or that the appointing court:
(A) considers appropriate to accomplish the objectives for which the receiver was appointed; and
(B) may increase or diminish at any time during the proceedings.
(b) To be appointed a receiver under this chapter, a foreign entity must be registered to transact business in this state.