11.409 – ANCILLARY RECEIVERSHIPS OF FOREIGN ENTITIES. (a)
Texas Business Organizations Code § 11.409
Summary
This law allows Texas district courts to appoint an ancillary receiver for foreign entities operating in Texas. This appointment occurs when the court finds it necessary to manage the entity's property and business affairs.
Applies to foreign entities with a registered office in Texas.
Court must determine necessity for appointing an ancillary receiver.
Receiver manages the entity's property and business operations.
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In simple terms: Learn about Texas's ANCILLARY RECEIVERSHIPS OF FOREIGN ENTITIES. (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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