11.404 – APPOINTMENT OF RECEIVER TO REHABILITATE DOMESTIC
Texas Business Organizations Code § 11.404
Summary
This law allows a court to appoint a receiver to manage a domestic entity's property and business if the entity is insolvent or facing imminent insolvency. It primarily affects domestic entities and their owners or members who are seeking relief from management deadlock or financial distress.
Court can appoint a receiver for insolvent domestic entities.
Applicable when owners or members seek intervention.
Addresses management deadlock situations.
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In simple terms: Learn about Texas's APPOINTMENT OF RECEIVER TO REHABILITATE DOMESTIC 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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