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Texas Statutes (Last Updated: January 4, 2014) |
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LOCAL GOVERNMENT CODE |
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Title 4. FINANCES |
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Subtitle B. COUNTY FINANCES |
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Chapter 130. MISCELLANEOUS FINANCIAL PROVISIONS AFFECTING COUNTIES |
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Subchapter Z. OTHER MISCELLANEOUS PROVISIONS |
Sec. 130.901. SALE OF RIGHTS TO JUDGMENT PROCEEDS
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(a) The commissioners court of a county may sell the rights of the county to any judgment proceeds belonging to the county if the principal and sureties on the judgment are insolvent so that under any existing process of law the judgment cannot be collected, either in whole or in part. The court may advertise the sale to the extent that it considers necessary and in the best interest of the county.
(b) If the amount bid for the rights to the judgment proceeds at the public sale is not considered sufficient, the commissioners court shall refuse to accept the bid and shall dispose of the rights in the manner considered most advantageous to the county's interest.
(c) If the court sells the rights to the judgment proceeds, the court shall properly assign the rights to the purchaser.