Tex. Spec. Dist. Local Laws Code § 8104.313 · Subchapter G. BONDS AND NOTES
APPOINTMENT OF RECEIVER.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The resolution authorizing the issuance of the bonds or notes, or the trust indenture or other instrument securing the bonds or notes, may provide that, on petition of the holders of outstanding bonds or notes, a court may appoint a receiver for the authority:
(1) on default in the payment of the principal of or interest on bonds or notes; or
(2) under the conditions stated in the resolution, trust indenture, or other instrument, on a threatened default in the payment of the principal of or interest on bonds or notes.
(b) The receiver may collect and receive pledged revenues and receipts.
(c) The resolution, trust indenture, or other instrument may limit or qualify the rights of less than all of the holders of outstanding bonds or notes payable from the same source to institute or prosecute litigation affecting the authority's properties or revenues.
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.06, eff. April 1, 2007.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.8104.htm
- Text hash
- sha256 c3e9a28e0038c4d3151270d1c93f34bb0d118a5d1ee4b00325fdef981f4ec96a
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.