23.33 – NONCONSENTING CREDITOR'S RIGHT TO SURPLUS. If a
Texas Business and Commerce Code § 23.33
Summary
This law allows a creditor who does not agree to an assignment to claim any surplus remaining after the assignee has paid consenting creditors and expenses. It ensures that nonconsenting creditors can recover amounts owed to them from the assigned estate's excess funds.
Nonconsenting creditors can claim surplus funds from an assignee.
Surplus is calculated after paying consenting creditors and expenses.
Protects the rights of creditors who do not consent to assignments.
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In simple terms: Learn about Texas's NONCONSENTING CREDITOR'S RIGHT TO SURPLUS. If a law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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