Sec. 64.035. DEPOSIT OF CERTAIN RAILROAD FUNDS. If a receiver operates a railroad that lies wholly within this state, the receiver shall deposit all money that comes into his hands, from operation of the railroad or otherwise, in a place in this state directed by the court. The money shall remain on deposit until properly disbursed. If any portion of the railroad lies in another state, the court shall require the receiver to deposit in this state a share of the funds that is at least proportionate to the value of the property of the company in this state.
Acts 1985, 69th Leg., ch. 959, Sec. 1, eff. Sept. 1, 1985.
Structure Texas Statutes
Civil Practice and Remedies Code
Title 3 - Extraordinary Remedies
Subchapter C. Powers and Duties
Section 64.031. General Powers and Duties
Section 64.033. Suits by Receiver
Section 64.034. Investments, Loans, and Contributions of Funds
Section 64.035. Deposit of Certain Railroad Funds
Section 64.036. Receivership Property Held by Financial Institution