Sec. 23.18. REPLACEMENT OF ASSIGNEE. (a) A county or district court of the county in which the assignee resides shall remove or replace the assignee on application of the assigning debtor or a creditor, or on its own motion,
(1) if the court is satisfied that the assignee has not executed and filed the bond required by Sections 23.16(c) and (d) of this code;
(2) if the assignee refuses or fails to serve for any reason; or
(3) for good cause.
(b) On removal, resignation, or death of the assignee, the court shall appoint in writing a new assignee in term time or vacation.
(c) As soon as the new assignee executes and files a bond as required by Sections 23.16(c) and (d) of this code, he shall take possession of the assigned estate and carry out the assignment.
Acts 1967, 60th Leg., p. 2343, ch. 785, Sec. 1.
Structure Texas Statutes
Title 3 - Insolvency, Fraudulent Transfers, and Fraud
Chapter 23 - Assignments for the Benefit of Creditors
Subchapter C. Duties and Rights of Assignee
Section 23.16. Assignee's Qualifications, Duty to Record Assignment, and Bond
Section 23.17. Notice of Assignee's Appointment
Section 23.18. Replacement of Assignee
Section 23.19. Assignee's Duty to Distribute Assigned Estate
Section 23.20. Discount of Claim Not Due and Allowance of Secured Claim
Section 23.21. Assignee's Entitlement to Compensation
Section 23.22. Examination of Debtor or Other Person
Section 23.23. Assignee's Final Report and Discharge
Section 23.24. Time Limit on Bringing Action Against Assignee