11.405 – APPOINTMENT OF RECEIVER TO LIQUIDATE DOMESTIC
Texas Business Organizations Code § 11.405
Summary
This law allows a court to appoint a receiver to liquidate the assets of a domestic entity when certain conditions are met, particularly if the attorney general has initiated termination proceedings. It primarily affects domestic entities facing legal action for dissolution and their stakeholders.
Court can order liquidation of domestic entity's assets.
Receiver is appointed to manage the liquidation process.
Applicable when attorney general files for entity termination.
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In simple terms: Learn about Texas's APPOINTMENT OF RECEIVER TO LIQUIDATE 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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