Texas § FI.186.213 - INJUNCTION IN AID OF LIQUIDATION

§ FI.186.213. INJUNCTION IN AID OF LIQUIDATION

INJUNCTION IN AID OF LIQUIDATION. (a) On application by the receiver, the court with or without notice may issue an injunction: (1) restraining each state trust company officer, director, manager, managing participant, employee, shareholder, participant, participant-transferee, trustee, agent, servant, employee, attorney, attorney-in-fact, accountant or accounting firm, correspondent, or other person from transacting the state trust company's business or wasting or disposing of its property; or (2) requiring the delivery of the state trust company's property or assets to the receiver subject to the further order of the court. (b) At any time during a proceeding under this subchapter, the court may issue another injunction or order considered necessary or desirable to prevent: (1) interference with the receiver or the proceeding; (2) waste of the assets of the state trust company; (3) the beginning or prosecution of an action; (4) the obtaining of a preference, judgment, attachment, garnishment, or other lien; or (5) the making of a levy against the state trust company or against its assets. Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.