{"data":{"id":"us-tx/tex.-finance-code-186.304","jurisdiction":"us-tx","citation":"Tex. Finance Code § 186.304","heading":"SECURED CLAIM.","body":"(a) The owner of a secured deposit may file a claim as a creditor against a state trust company in liquidation. The value of security shall be determined under supervision of the court by converting the security into money.\n(b) The owner of a secured claim against a state trust company in liquidation may:\n(1) surrender the security and file a claim as a general creditor; or\n(2) apply the security to the claim and discharge the claim.\n(c) If the owner applies the security and discharges the claim under Subsection (b), any deficiency shall be treated as a claim against the general assets of the state trust company on the same basis as a claim of an unsecured creditor. The amount of the deficiency shall be determined as provided by Section 186.305, except that if the amount of the deficiency has been adjudicated by a court in a proceeding in which the receiver has had notice and an opportunity to be heard, the court's decision is conclusive as to the amount.\n(d) The value of security held by a secured creditor shall be determined under supervision of the court by:\n(1) converting the security into money according to the terms of the agreement under which the security was delivered to the creditor; or\n(2) agreement, arbitration, compromise, or litigation between the creditor and the receiver.\nAdded by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE F. TRUST COMPANIES","CHAPTER 186. DISSOLUTION AND RECEIVERSHIP","SUBCHAPTER D. CLAIMS AGAINST RECEIVERSHIP ESTATE"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.186.htm#186.304","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"09d9f1a8d9a0d4fc51fb8c5f3c53ee9294bff7ad45afd97c0b270debc25182c2","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-186.303","next":"us-tx/tex.-finance-code-186.305"},"notice":"GroundRules: Original legal text. Not legal advice."}