Definition

Sec. 36.001. DEFINITION. 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 bank estate; (3) wages owed to an employee of a bank for services rendered within three months before the date the bank 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 bank employee whose services are retained by the receiver for services rendered after the date the bank is closed for liquidation; (5) an unpaid expense of supervision or conservatorship of the bank before its closing for liquidation; and (6) any unpaid fees or assessments owed to the department. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.