§ 614. Obtaining possession of pleadings, et cetera, in actions against which attorneys’ liens are asserted. When the superintendent is in possession of any banking organization, and attorneys’ liens are asserted by attorneys of such banking organization against any causes of action to which such banking organization is a party, or against pleadings or other […]
§ 615. On taking possession, superintendent shall notify those holding assets; effect of notification; turnover of assets and payment of debts owed to the banking organization. When the superintendent shall take possession of the property and business of any banking organization: 1. The superintendent shall forthwith give notice of such fact to all corporations, unincorporated […]
§ 616. Inventory of assets; where filed. After the superintendent shall have taken possession of and shall have determined to liquidate the property and business of any banking organization, he shall make in duplicate an inventory of the assets of such banking organization. He shall file one copy of such inventory in his office and […]
§ 617. Disposition of property held as bailee, or depositary; opening of safe deposit boxes; disposal of contents. 1. The superintendent may, after he has taken possession of any banking organization, cause to be mailed to each person claiming to be, or appearing upon the books of such banking organization to be (1) the owner […]
§ 618. Liquidation and conservation of assets; compromising debts and claims; deposit of moneys collected; preference; superintendent, as liquidator, authorized to borrow on and pledge assets of banks. 1. (a) The superintendent is authorized, upon taking possession of any banking organization, to liquidate the affairs thereof and to do all acts and to make such […]
§ 618-a. Repudiation of contracts. 1. Except as otherwise provided in this section, when the superintendent has taken possession of the business and property in this state of a banking organization, unless the federal regulator or insurer is appointed as receiver or liquidator, the superintendent may assume or repudiate any contract, including an unexpired lease, […]
§ 619. Prosecution and defense of actions; actions preferred; limitations; power to execute instruments; exemption from filing and other fees. 1. (a) For the purpose of executing any of the powers and performing any of the duties hereby conferred upon him, the superintendent may, in the name of any banking organization of which he is […]
§ 620. Notice to creditors to make proof of claims; form of claims; claims for priority of payment. 1. When the superintendent shall have taken possession of any banking organization, and shall have determined to liquidate its affairs, he or she shall notify all persons who may have claims against such banking organization to present […]
§ 620-a. Certain claims shall not be accepted. The superintendent shall not accept a claim based on an agreement with the banking organization unless the agreement is either reflected on the accounts, books or records of the banking organization or a creditor provides documentary evidence of such agreement. The superintendent may issue any regulations determined […]
§ 622. List of claims duly presented; filing. The superintendent shall cause to be made in duplicate a complete list of all claims duly presented specifying the name of the claimant, the nature of the claim and the amount thereof. Such list shall also contain a statement of accounts payable as shown by the books […]
§ 623. Filing objections to claims presented or listed; procedure upon claim under objection. Within forty days after the superintendent shall have filed in his office a copy of the list of claims required by section six hundred twenty-two, objections to any claim duly presented or to any account appearing on such list may be […]
§ 624. Acceptance and rejection of claims and accounts; filing of list thereof; secured claims and accounts; determination of priorities. 1. The superintendent shall, not later than sixty days after the time has expired to file objections to claims duly presented, accept or reject, in whole or in part, every duly filed claim except claims […]
§ 625. Effect of accepting claims and accounts; limitation upon actions to establish claims and accounts; necessary allegations; effect of judgment. 1. When the superintendent has accepted a duly filed claim and has filed such claim endorsed “accepted” in his office, the claimant, unless priority of payment has been duly demanded, and such claim is […]
§ 626. Judgments recovered shall not be liens. A lien shall not attach to any of the property or assets of any banking organization by reason of the entry of any judgment recovered against such banking organization after the superintendent has taken possession of its property and business and so long as such possession continues.
§ 627. Dividends to creditors; distributions to stockholders; dissolution; destruction of documents. 1. At any time after the date fixed by the superintendent for the presentation of claims, the superintendent may, upon an order of the supreme court, declare and pay out of the funds remaining in his or her hands after the payment of […]
§ 628. Payment of dividends when deposits have been made available by Federal Deposit Insurance Corporation. When the superintendent shall have taken possession of any banking organization for the purpose of liquidation, and Federal Deposit Insurance Corporation shall have made available to the depositors thereof the amounts of their respective deposits insured by such corporation, […]
§ 629. Payment of dividends to minors, trustees or joint depositors; payment of dividends where adverse claim is asserted; interpleader in certain actions. 1. Where a claim or an account payable in the name of any minor has been accepted by the superintendent, dividends thereon shall be paid to such minor and the receipt or […]
§ 630. Claims of shareholders and members of credit unions and savings and loan associations. For the purposes of sections six hundred six to six hundred thirty-one, both inclusive, of this chapter, the terms “depositors” and “creditors” shall be deemed to include shareholders or members of a credit union or savings and loan association, and […]
§ 631. Actions against directors, trustees, managers or officers for violation of their official duties. At any time while the superintendent is in possession of the property and business of any corporation, he may within six years after the cause of action has accrued institute and maintain in his name as superintendent of financial services […]
§ 633. Service of notice or process during time of war. Whenever, pursuant to the provisions of this article, any communication, notice or other paper or process is required to be given or served by the superintendent upon any person and the giving or service thereof is in any manner prohibited by the provisions of […]
