Texas Civil Practice and Remedies Code 64.051 – Application of Funds; Preferences
(a) A receiver shall apply the earnings of property held in receivership to the payment of the following claims in the order listed:
(1) court costs of suit;
(2) wages of employees due by the receiver;
(3) debts owed for materials and supplies purchased by the receiver for the improvement of the property held as receiver;
(4) debts due for improvements made during the receivership to the property held as receiver;
(5) claims and accounts against the receiver on contracts made by the receiver, personal injury claims and claims for stock against the receiver accruing during the receivership, and judgments rendered against the receiver for personal injuries and for stock killed; and
(6) judgments recovered in suits brought before the receiver was appointed.
(b) Claims listed in this section have a preference lien on the earnings of the property held by the receiver.
Terms Used In Texas Civil Practice and Remedies Code 64.051
- Lien: A claim against real or personal property in satisfaction of a debt.
- Property: means real and personal property. See Texas Government Code 311.005
(c) The court shall ensure that the earnings are paid in the order of preference listed in this section.