Texas Business Organizations Code 11.402 – Jurisdiction to Appoint Receiver
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(a) A court that has subject matter jurisdiction over specific property of a domestic or foreign entity that is located in this state and is involved in litigation has jurisdiction to appoint a receiver for that property as provided by § 11.403.
(b) A district court in the county in which the registered office or principal place of business of a domestic entity is located has jurisdiction to:
(1) appoint a receiver for the property and business of a domestic entity for the purpose of rehabilitating the entity as provided by § 11.404; or
(2) order the liquidation of the property and business of a domestic entity and appoint a receiver to effect that liquidation as provided by § 11.405.
Terms Used In Texas Business Organizations Code 11.402
- Business: means a trade, occupation, profession, or other commercial activity. See Texas Business Organizations Code 1.002
- Domestic: means , with respect to an entity, that the entity is formed under this code or the entity's internal affairs are governed by this code. See Texas Business Organizations Code 1.002
- Domestic entity: means an organization formed under or the internal affairs of which are governed by this code. See Texas Business Organizations Code 1.002
- Entity: means a domestic entity or foreign entity. See Texas Business Organizations Code 1.002
- Foreign: means , with respect to an entity, that the entity is formed under, and the entity's internal affairs are governed by, the laws of a jurisdiction other than this state. See Texas Business Organizations Code 1.002
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- Property: includes tangible and intangible property and an interest in that property. See Texas Business Organizations Code 1.002