Texas § 885.503 ISSUANCE OF INJUNCTION AND APPOINTMENT OF RECEIVER.

Texas Statutes

§ 885.503 — ISSUANCE OF INJUNCTION AND APPOINTMENT OF RECEIVER.

Texas § 885.503

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This text of Texas § 885.503 (ISSUANCE OF INJUNCTION AND APPOINTMENT OF RECEIVER.) 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. Insurance Code Code Ann. § 885.503 (2026).

Text

Sec. 885.503. ISSUANCE OF INJUNCTION AND APPOINTMENT OF RECEIVER.

(a)If it appears on the trial of an action brought under Section 885.502 (b) that the fraternal benefit society should be closed, the court shall:

(1)enjoin the society from engaging in further business; and

(2)appoint a receiver for the society.

(b)A receiver appointed under Subsection (a)(2) shall:

(1)immediately take possession of the books, papers, money, and other assets of the fraternal benefit society; and

(2)promptly, under the court's direction, proceed to close the society's affairs and distribute its funds to the persons entitled to those funds.

(c)A court in this state may not hear an application for an injunction against or proceedings for the dissolution of or the appointment of a receiver for a domestic

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Sec. 885.503. ISSUANCE OF INJUNCTION AND APPOINTMENT OF RECEIVER. (a) If it appears on the trial of an action brought under Section 885.502 (b) that the fraternal benefit society should be closed, the court shall:
(1) enjoin the society from engaging in further business; and
(2) appoint a receiver for the society.
(b) A receiver appointed under Subsection (a)(2) shall:
(1) immediately take possession of the books, papers, money, and other assets of the fraternal benefit society; and
(2) promptly, under the court's direction, proceed to close the society's affairs and distribute its funds to the persons entitled to those funds.
(c) A court in this state may not hear an application for an injunction against or proceedings for the dissolution of or the appointment of a receiver for a domestic fraternal benefit society or lodge unless the attorney general makes the application or brings the proceedings.
SUBCHAPTER O. CRIMINAL PENALTIES