Section 5-8A-28 – Creation of Liens Against Bank After Possession by Superintendent.
Section 5-8A-28 Creation of liens against bank after possession by superintendent. After the superintendent has taken possession of the property and business of a bank as provided in this chapter, no judgment lien, attachment lien, or any voluntary lien, except as provided in this chapter, shall attach to any assets of said bank nor shall […]
Section 5-8A-44 – Actions Upon Rejected Claims; Late Claims.
Section 5-8A-44 Actions upon rejected claims; late claims. Any action upon a claim so rejected must be brought by filing a complaint in the receivership court by the claimant within six months after service of such notice or the same shall be barred. Claims presented and allowed after the expiration of the time fixed in […]
Section 5-8A-29 – Resumption of Business of Bank.
Section 5-8A-29 Resumption of business of bank. After the superintendent has taken possession of a bank, the superintendent may permit such bank to resume business upon such conditions as may be approved by him, including an observance of all the requirements of law and making good of all deficits in the previous observance of law. […]
Section 5-8A-45 – Payment of Dividends to Creditors.
Section 5-8A-45 Payment of dividends to creditors. At any time after the expiration of the date fixed for the presentation of claims, the receiver may, out of the funds remaining in his hands after the payment of expenses, declare and pay one or more dividends to creditors, and after the expiration of one year from […]
Section 5-8A-30 – Collection of Claims of Bank, Etc.
Section 5-8A-30 Collection of claims of bank, etc. Upon taking possession of any of the property and business of any bank, the receiver may collect moneys due to such bank and do such other acts as are necessary to conserve its assets and business, and shall proceed to liquidate the affairs thereof as provided in […]
Section 5-8A-46 – Final Distribution, Termination of Receivership and Dissolution of Bank.
Section 5-8A-46 Final distribution, termination of receivership and dissolution of bank. Whenever the receiver shall have paid to each and every depositor and creditor of such bank whose claim or claims as such creditor or depositor shall have been duly proven and allowed the full amount of such claims and shall have made proper provision […]
Section 5-8A-31 – Subrogation of Federal Deposit Insurance Corporation.
Section 5-8A-31 Subrogation of Federal Deposit Insurance Corporation. Whenever any bank shall have been closed as provided under the laws of this state, and the Federal Deposit Insurance Corporation shall pay or make available for payment the insured deposit liabilities of such closed institution, the corporation, whether or not it shall have become receiver or […]
Section 5-8A-32 – Sale, etc., of Bad Debts and Property of Bank.
Section 5-8A-32 Sale, etc., of bad debts and property of bank. The receiver, by making application to the receivership court, may procure an order to sell or compound all bad or doubtful debts and on like order may sell all real and personal property of such bank on such terms as the court shall direct; […]
Section 5-8A-33 – Negotiation of Loans, Granting of Security, etc., on Behalf of Closed Bank.
Section 5-8A-33 Negotiation of loans, granting of security, etc., on behalf of closed bank. (a) The receiver is authorized to borrow money and pledge the assets of a bank in liquidation for protecting and preserving its assets, for paying secured claims, for aiding in the reorganization or reopening of such bank or for making distribution […]
Section 5-8A-34 – Loans From and Sale of Assets to Federal Deposit Insurance Corporation for Bank.
Section 5-8A-34 Loans from and sale of assets to Federal Deposit Insurance Corporation for bank. With respect to any bank which is now or may hereafter be closed as provided under the laws of this state, the receiver of such bank may borrow from the Federal Deposit Insurance Corporation and furnish any part or all […]