Sec. 64.074. CLAIMS PREFERENCE AGAINST CURRENT EARNINGS. A judgment or claim existing against a corporation at the time the receiver is appointed or a judgment in an action existing at that time shall be paid out of the earnings of the corporation earned during the receivership in preference to the mortgage of a mortgagee who instituted the receivership. The judgment or claim is a lien on those earnings.
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 E. Provisions Relating to Receivership of Corporations
Section 64.071. Venue for Appointment
Section 64.072. Limited Duration
Section 64.0721. Termination of Railroad Receivership
Section 64.073. Earnings on Improved Property Liable for Debts
Section 64.074. Claims Preference Against Current Earnings
Section 64.075. Forfeiture of Charter for Unqualified Receiver
Section 64.076. Suits Against Railroad Receiver: Venue and Service