§ 81-27-8.104. Notice to trust institutions, corporations and others holding assets; liens not to accrue
Upon taking possession of the assets and business of any state trust company, the commissioner, or duly appointed agent, shall forthwith give notice, by mail or otherwise, of such action to all trust institutions or other persons or corporations holding, or having in possession, any assets of such state trust company. No trust company or […]
§ 81-27-8.105. Permission to resume business
After the commissioner has taken possession of any state trust company, such state trust company may resume business as provided by law.
§ 81-27-8.106. Remedy for seizure; answer to notice, injunction; and appeal
Whenever any state trust company, of whose assets and business the commissioner has taken possession as herein provided, except where possession is taken under Section 81-27-8.102, shall deem itself aggrieved thereby, and it may, at any time within ten (10) days after the filing of the notice with the chancery clerk, file an answer to […]
§ 81-27-8.107. Collection of debts and claims; commissioner succeeds to all property of the state trust company
Upon taking possession of the assets and business of any state trust company by the commissioner, or a duly appointed agent, the commissioner or agent is authorized to collect all money due the state trust company, and to do such other acts as are necessary to conserve its assets and property, and shall proceed to […]
§ 81-27-8.108. Bond of the commissioner; surety; condition; minimum penalty
Upon taking possession of any state trust company, the commissioner, or a duly appointed agent shall execute and file a bond payable to this state, with some surety company as surety thereon, with the chancery clerk of the county where the state trust company is located, conditioned upon the faithful performance of all duties imposed […]
§ 81-27-8.109. Inventory
Within thirty (30) days after the filing of the notice of the taking possession of a state trust company in the office of the chancery clerk, the commissioner, or a duly appointed agent, shall file an inventory of the assets and liabilities of such state trust company. A copy of the inventory shall be filed […]
§ 81-27-8.110. Notice and time for filing claims
Notice shall be given by advertisement once a week for four (4) consecutive weeks in a newspaper published in the county where the state trust company is located, or if no newspaper is published in the county, then in some newspaper having a general circulation in the county, calling on all persons who may have […]
§ 81-27-8.111. Power to reject claims; notice; affidavit of service; action on claims
If the commissioner, or a duly appointed agent, doubts the validity of any claim, the commissioner or agent may reject the same and serve notice of such rejection upon the claimant, either personally or by registered mail, and an affidavit of the service of such notice shall be filed in the office of the chancery […]
§ 81-27-8.112. List of claims presented and deposits; copies; proviso
Upon the expiration of the time fixed for presentation of claims, the commissioner, or the duly appointed agent, shall make a full and complete list of the claims presented, including and specifying any claims which have been rejected. One (1) copy shall be filed in the office of the chancery clerk in the pending action, […]
§ 81-27-8.006. Sell or transfer of property
Whenever the commissioner shall approve it, any state trust company may sell and transfer to any other trust institution, whether state or federally chartered, all of its assets of every kind upon such terms as may be agreed upon and approved by the commissioner and by two-thirds (2/3) vote of its board of directors or […]