{"data":{"id":"us-tx/tex.-insurance-code-885.503","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 885.503","heading":"ISSUANCE OF INJUNCTION AND APPOINTMENT OF RECEIVER.","body":"(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:\n(1) enjoin the society from engaging in further business; and\n(2) appoint a receiver for the society.\n(b) A receiver appointed under Subsection (a)(2) shall:\n(1) immediately take possession of the books, papers, money, and other assets of the fraternal benefit society; and\n(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.\n(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.\nAdded by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.","path":["INSURANCE CODE","TITLE 6. ORGANIZATION OF INSURERS AND RELATED ENTITIES","SUBTITLE E. MUTUAL AND FRATERNAL COMPANIES AND RELATED ENTITIES","CHAPTER 885. FRATERNAL BENEFIT SOCIETIES","SUBCHAPTER K. TERMINATION OF FRATERNAL BENEFIT SOCIETY"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.885.htm#885.503","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"af4c65c449c8d0e4a2b4fd65fb5e9dca5e11b812785b1f26e8c4341bd027d4a6","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-885.502","next":"us-tx/tex.-insurance-code-885.701"},"notice":"GroundRules: Original legal text. Not legal advice."}