Texas § 11006.261 APPOINTMENT OF RECEIVER.

Texas Statutes

§ 11006.261 — APPOINTMENT OF RECEIVER.

Texas § 11006.261

Code SDSpecial District Local Laws Code

This text of Texas § 11006.261 (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. Special District Local Laws Code Code Ann. § 11006.261 (2026).

Text

Sec. 11006.261. APPOINTMENT OF RECEIVER.

(a)On default or threatened default in the payment of the principal of or interest on authority bonds that are payable wholly or partly from revenue, a court may, on petition of the holders of outstanding bonds, appoint a receiver for the authority.

(b)The receiver may collect and receive all authority income, employ and discharge authority agents and employees, take charge of money on hand, and manage the proprietary affairs of the authority without consent or hindrance by the board.

(c)The receiver may be authorized to sell or contract for the sale of water or to renew contracts with the approval of the court that appointed the receiver.

(d)The court may vest the receiver with any other power or duty the court finds necessary to protect the bo

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Sec. 11006.261. APPOINTMENT OF RECEIVER. (a) On default or threatened default in the payment of the principal of or interest on authority bonds that are payable wholly or partly from revenue, a court may, on petition of the holders of outstanding bonds, appoint a receiver for the authority.
(b) The receiver may collect and receive all authority income, employ and discharge authority agents and employees, take charge of money on hand, and manage the proprietary affairs of the authority without consent or hindrance by the board.
(c) The receiver may be authorized to sell or contract for the sale of water or to renew contracts with the approval of the court that appointed the receiver.
(d) The court may vest the receiver with any other power or duty the court finds necessary to protect the bondholders.