Sec. 11.406.  RECEIVERS:  QUALIFICATIONS, POWERS, AND DUTIES.  (a)  A receiver appointed under this chapter:
(1)  must be an individual citizen of the United States or an entity authorized to act as receiver;
(2)  shall give a bond in the amount required by the court and with any sureties as may be required by the court;
(3)  may sue and be sued in the receiver's name in any court;
(4)  has the powers and duties provided by other laws applicable to receivers;  and
(5)  has the powers and duties that are stated in the order appointing the receiver or that the appointing court:
(A)  considers appropriate to accomplish the objectives for which the receiver was appointed;  and
(B)  may increase or diminish at any time during the proceedings.
(b)  To be appointed a receiver under this chapter, a foreign entity must be registered to transact business in this state.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.