{"data":{"id":"us-tx/tex.-business-organizations-code-11.406","jurisdiction":"us-tx","citation":"Tex. Business Organizations Code § 11.406","heading":"RECEIVERS: QUALIFICATIONS, POWERS, AND DUTIES.","body":"(a) A receiver appointed under this chapter:\n(1) must be an individual citizen of the United States or an entity authorized to act as receiver;\n(2) shall give a bond in the amount required by the court and with any sureties as may be required by the court;\n(3) may sue and be sued in the receiver's name in any court;\n(4) has the powers and duties provided by other laws applicable to receivers; and\n(5) has the powers and duties that are stated in the order appointing the receiver or that the appointing court:\n(A) considers appropriate to accomplish the objectives for which the receiver was appointed; and\n(B) may increase or diminish at any time during the proceedings.\n(b) To be appointed a receiver under this chapter, a foreign entity must be registered to transact business in this state.\nActs 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.","path":["BUSINESS ORGANIZATIONS CODE","TITLE 1. GENERAL PROVISIONS","CHAPTER 11. WINDING UP AND TERMINATION OF DOMESTIC ENTITY","SUBCHAPTER I. RECEIVERSHIP"],"source_url":"https://statutes.capitol.texas.gov/Docs/BO/htm/BO.11.htm#11.406","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:58Z","sha256":"e0fb6199b0d188c8db86942669bb82cd3cfc623de693895671d35faf48cff35e","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-organizations-code-11.405","next":"us-tx/tex.-business-organizations-code-11.407"},"notice":"GroundRules: Original legal text. Not legal advice."}