§ 81-27-8.118. Annual report of the commissioner; items included
The commissioner shall file, as a part of an annual report to the Governor, a list of the names of the state trust companies of which possession was taken and liquidated; and the commissioner shall, from time-to-time compile and make available for public inspection, reports showing the condition of each and all such state trust […]
§ 81-27-8.119. Compensation of the commissioner
The commissioner, for services rendered in connection with the liquidation of state trust companies hereunder, shall be entitled to actual expenses incurred in connection with the liquidation of each state trust company, including therein a reasonable sum for the time of the examiners and other agents of the commissioner, which expenses shall be a prior […]
§ 81-27-8.120. Exclusive method of liquidation
No state trust company created before July 1, 1998, shall be liquidated in any other way or manner than that provided in this chapter.
§ 81-27-8.121. Disposition of books and records
All books, papers and records of a state trust company which has been finally liquidated shall be deposited by the receiver in the office of the chancery clerk for the county in which the office of such state trust company is located, or in such other place as in the receiver’s judgment will provide for […]
§ 81-27-8.122. Destruction of books and records
After the expiration of five (5) years from the date of filing in the office of the chancery clerk of a final order approving the liquidation by the commissioner of any insolvent state trust company and the delivery to the clerk or into the clerk’s custody of the records of such state trust company, the […]
§ 81-27-8.113. Declaration of dividends; order of preference in distribution
At any time after the expiration of the date fixed by the commissioner, or the duly appointed agent, for the presentation of claims against the state trust company, and from time-to-time thereafter, the commissioner, out of the funds in the hands of the commissioner, after the payment of expenses and priorities, may declare and pay […]
§ 81-27-8.114. Deposit of funds collected
All funds collected by the commissioner, in liquidating any state trust company, shall be deposited from time-to-time in a bank as may be selected by the commissioner, and shall be subject to the check of the commissioner.
§ 81-27-8.115. Employment of counsel; accountants; and other experts; compensation
The commissioner, for the purpose of liquidating state trust companies as herein provided, shall employ such liquidating agents, competent local attorneys, accountants and clerks as may be necessary to properly liquidate and distribute the assets of a state trust company, and shall fix the compensation for all such agents, attorneys, accountants and clerks, and shall […]
§ 81-27-8.116. Unclaimed dividends held in trust
Any unclaimed dividends remaining in the hands of the commissioner for six (6) months after the order for final distributions shall be held in trust for the several creditors of the liquidated state trust company; and the money so held by the commissioner shall be paid over to the persons respectively entitled thereto as and […]
§ 81-27-8.103. Notice of seizure; bar to attachment
When the commissioner, or duly appointed agent, shall take possession of any state trust company under Section 81-27-8.101 or Section 81-27-8.102, the commissioner or agent shall within forty-eight (48) hours, file with the chancery clerk of the county where the state trust company is located, a notice of such action which shall state the reason […]