Sec. 36.227. ASSETS DISCOVERED AFTER CLOSE OF RECEIVERSHIP. (a) The banking commissioner shall report to the court discovery of an asset having value that:
(1) the banking commissioner discovers after the receivership was closed by final order of the court; and
(2) was abandoned as worthless or unknown during the receivership.
(b) The court may reopen the receivership proceeding for continued liquidation if the value of the asset justifies the reopening.
(c) If the banking commissioner suspects that the information may have been intentionally or fraudulently concealed, the banking commissioner shall notify appropriate civil and criminal authorities to determine any applicable penalties.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Chapter 36 - Dissolution and Receivership
Subchapter C. Involuntary Dissolution and Liquidation
Section 36.201. Action to Close State Bank
Section 36.202. Notice and Effect of Closure; Appointment of Receiver
Section 36.203. Nature and Duration of Receivership
Section 36.204. Contest of Liquidation
Section 36.205. Notice of Bank Closing
Section 36.207. Receiver's Title and Priority
Section 36.210. Pending Lawsuit
Section 36.212. Requiring Record or Other Property in Possession of Other Person
Section 36.213. Injunction in Aid of Liquidation
Section 36.215. Executory Contract; Oral Agreement
Section 36.217. Employees of Receiver
Section 36.218. Disposal of Property; Settling of Claim
Section 36.219. Court Order; Notice and Hearing
Section 36.220. Receiver's Report; Expenses
Section 36.221. Court-Ordered Audit
Section 36.222. Safe Deposits and Other Bailments
Section 36.223. Fiduciary Activities
Section 36.224. Disposition and Maintenance of Records
Section 36.225. Records Admitted
Section 36.226. Resumption of Business
Section 36.227. Assets Discovered After Close of Receivership