Section 5-8A-23 – Acquisition of Possession of Property and Business of Bank by Superintendent; Notice to Holders of Bank Assets.
Section 5-8A-23 Acquisition of possession of property and business of bank by superintendent; notice to holders of bank assets. The superintendent shall not take possession of the property and business of any bank under the provisions of this chapter unless requested in writing to do so by a majority of the directors of the bank […]
Section 5-8A-39 – Notice for and Filing of Claims Against Bank.
Section 5-8A-39 Notice for and filing of claims against bank. The receiver shall cause notice to be given by advertisement in such newspaper as he may direct, once a week for six consecutive weeks, calling all persons who may have claims, but not including deposits or certificates of deposit shown by the books of the […]
Section 5-8A-24 – Appointment of Receiver to Liquidate Bank.
Section 5-8A-24 Appointment of receiver to liquidate bank. The superintendent may under his or her hand and official seal appoint a receiver to liquidate and distribute the assets of any bank taken possession of by the superintendent under the provisions of this chapter, the certificate of appointment to be filed in the office of the […]
Section 5-8A-40 – Preferred Claims.
Section 5-8A-40 Preferred claims. In addition to any other laws of this state or of the United States granting priority, any draft or cashier’s check issued and drawn against actual existing value by any bank prior to its failure or closing and given in payment of clearings and any money paid in the usual course […]
Section 5-8A-25 – Passage of Title to Assets, etc., of Banking Institution to Receiver.
Section 5-8A-25 Passage of title to assets, etc., of banking institution to receiver. Upon the appointment of a receiver to liquidate a bank, the possession of and title to all assets, business and property of such bank of every kind and nature shall pass to and vest in the receiver without the execution of any […]
Section 5-8A-41 – Inventory of Assets of Bank; Filing List of Claims.
Section 5-8A-41 Inventory of assets of bank; filing list of claims. Upon taking possession of the property and assets of such bank, the receiver shall make an inventory of the assets of such bank in duplicate, and upon expiration of time for rejection of claims, make a full and complete list of claims in duplicate, […]
Section 5-8A-26 – Use of Bank Examiner’s Reports as Evidence in Liquidation Proceedings, Etc.
Section 5-8A-26 Use of bank examiner’s reports as evidence in liquidation proceedings, etc. In the event the superintendent takes charge of the business and affairs of any bank as authorized in this chapter or in the event a proceeding is instituted to forfeit the charter of any bank, the report of the examiner of such […]
Section 5-8A-42 – Objections to Claims; Unproven or Unclaimed Deposits.
Section 5-8A-42 Objections to claims; unproven or unclaimed deposits. Objections to any claim or deposit not rejected by the receiver may be made by any party interested by filing a copy of such objections with the clerk of the receivership court and with the receiver, who shall present the same to the receivership court before […]
Section 5-8A-27 – Application by Bank for Injunction Against Acquisition of Possession of Business and Property by Receiver or Superintendent.
Section 5-8A-27 Application by bank for injunction against acquisition of possession of business and property by receiver or superintendent. Whenever the superintendent or a receiver has taken charge of the property or business of any bank, such bank may at any time within 10 days after the taking of such possession apply to the receivership […]
Section 5-8A-43 – Rejection of Claims.
Section 5-8A-43 Rejection of claims. If the receiver doubts the validity of any claims or deposits, he may reject the same and serve notice of such rejection upon the claimant or depositor, either by mail or personally, and an affidavit of service of such notice, which shall be prima facie evidence thereof, shall be filed […]