{"data":{"id":"us-tx/tex.-finance-code-155.004","jurisdiction":"us-tx","citation":"Tex. Finance Code § 155.004","heading":"RECEIVER ON FAILURE OF CORPORATION.","body":"(a) If a corporation that does business in this state as a bond investment company fails, a district court of the county in which the principal office of the corporation is located shall appoint, on application of a shareholder of the corporation, a receiver.\n(b) A receiver appointed under Subsection (a) shall:\n(1) wind up the affairs of the corporation;\n(2) liquidate the debts of the corporation; and\n(3) distribute any remaining assets of the corporation, including, if ordered by the court, the deposit made under this chapter to secure the shareholders.\n(c) The comptroller may refund a deposit made under this chapter on application of the receiver approved by the court.\nActs 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE E. OTHER FINANCIAL BUSINESSES","CHAPTER 155. BOND INVESTMENT COMPANIES"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.155.htm#155.004","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"0655f8d9adece56a890479724288319225879bf118d0a56b15649865a2d48d50","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-155.003","next":"us-tx/tex.-finance-code-155.005"},"notice":"GroundRules: Original legal text. Not legal advice."}