Tex. Agriculture Code § 14.014
RECEIVERSHIP AFFECTING WAREHOUSE ASSETS
Texas · Texas Agriculture Code · Status: effective
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- Citation
- Tex. Agriculture Code § 14.014, RECEIVERSHIP AFFECTING WAREHOUSE ASSETS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/626428
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Full text
(a) A person appointed receiver for the assets of a warehouse operator licensed under this chapter is not required to obtain a license from the department if the person:
(1) is bonded and insured as described by Subsection (b); and
(2) after being appointed, does not:
(A) receive additional grain for storing for hire, handling for hire, or shipping for hire; or
(B) purchase grain for resale.
(b) A person appointed receiver shall maintain:
(1) a bond in the same amount required for a licensed warehouse operator; and
(2) casualty insurance in the same amount and type as required for a licensed warehouse operator.
(c) A person appointed receiver shall file proof of proper bonding and verification of insurance with the department on or before the date the person is appointed to act as receiver.