Tex. Finance Code § 186.227
ASSETS DISCOVERED AFTER CLOSE OF RECEIVERSHIP
Texas · Texas Finance Code · Status: effective
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- Citation
- Tex. Finance Code § 186.227, ASSETS DISCOVERED AFTER CLOSE OF RECEIVERSHIP, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/646757
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Full text
(a) The banking commissioner shall report to the court discovery of an asset having value that:
(1) the banking commissioner discovers after the receivership was closed by final order of the court; and
(2) was abandoned as worthless or unknown during receivership.
(b) The court may reopen the receivership proceeding for continued liquidation if the value of the after-discovered assets justifies the reopening.
(c) If the banking commissioner suspects that the information concerning after-disclosed assets may have been intentionally or fraudulently concealed, the banking commissioner shall notify appropriate civil and criminal authorities to determine any applicable penalties.