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Current as of January 01, 2024 | Updated by Findlaw Staff
In this chapter, “administrative expense” means:
(1) an expense designated as an administrative expense by Subchapter C or D;
(2) court costs and expenses of operation and liquidation of a state trust company estate;
(3) wages owed to an employee of a state trust company for services rendered within three months before the date the state trust company was closed for liquidation and not exceeding:
(A) $2,000 to each employee; or
(B) another amount set by rules adopted under this subtitle;
(4) current wages owed to a state trust company employee whose services are retained by the receiver for services rendered after the date the state trust company is closed for liquidation;
(5) an unpaid expense of supervision or conservatorship of the state trust company before its closing for liquidation; and
(6) any unpaid fees or assessments owed to the department.
Cite this article: FindLaw.com - Texas Finance Code - FIN § 186.001. Definition - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-186-001/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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