§ 53-385 – Inventory.
53-385. Inventory. Within 90 days after the filing of a notice described in G.S. 53-379, the Commissioner shall file an inventory of the assets and liabilities, not including assets and liabilities held in accounts of the State trust company, of the State trust company. A copy of the inventory shall be filed with the clerk […]
§ 53-386 – Notice and time for filing claims.
53-386. Notice and time for filing claims. Notice shall be given by advertisement once a week for four consecutive weeks in a newspaper published in the county where the principal office of the State trust company is located, or if no newspaper is published in the county, then in some newspaper having a general circulation […]
§ 53-387 – Power to reject claims; notice; affidavit of service; action on claims.
53-387. Power to reject claims; notice; affidavit of service; action on claims. If the Commissioner doubts the validity of any claim, the Commissioner may reject the claim, in whole or in part, and serve notice of the rejection upon the claimant, either personally or by certified mail, and an affidavit of the service of the […]
§ 53-388 – List of claims presented, copies, and proviso.
53-388. List of claims presented, copies, and proviso. Upon the expiration of the time fixed for presentation of claims, the Commissioner shall make a full and complete list of the claims presented, including and specifying any claims that have been rejected. One copy shall be filed in the office of the clerk of the superior […]
§ 53-389 – Declaration of dividends; order of preference in distribution.
53-389. Declaration of dividends; order of preference in distribution. (a) At any time after the expiration of the date fixed by the Commissioner for the presentation of claims against the State trust company, and from time to time thereafter, the Commissioner may declare and pay dividends to the creditors and shareholders of the State trust […]
§ 53-390 – Deposit of funds collected.
53-390. 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 withdrawal by check of the Commissioner. (2001-263, s. 1.)
§ 53-391 – Employment of counsel, accountants, and other experts; compensation.
53-391. Employment of counsel, accountants, and other experts; compensation. The Commissioner, for the purpose of exercising any power under the provisions of this Subpart, may (i) employ any liquidating agents, attorneys, accountants, consultants, and clerks necessary to properly conduct the business of or liquidate and distribute the assets of a State trust company; (ii) fix […]
§ 53-392 – Unclaimed dividends held in trust.
53-392. Unclaimed dividends held in trust. Unclaimed dividends for claims described in subdivisions (a)(1) through (a)(4) of G.S. 53-389 shall be held by the Commissioner in trust for the claimants to whom the dividends are owed; and the dividends so held by the Commissioner shall be paid over to the persons entitled to the dividends […]
§ 53-381 – Permission to resume business.
53-381. Permission to resume business. (a) After the Commissioner has taken possession of a State trust company under the provisions of this Subpart, the State trust company may resume business only upon approval and subject to terms and conditions specified by the Commissioner. (b) When possession of a State trust company has been taken pursuant […]
§ 53-382 – Remedy for seizure; answer to notice; injunction; appeal; and motions.
53-382. Remedy for seizure; answer to notice; injunction; appeal; and motions. (a) Whenever any State trust company of which the Commissioner has taken possession under G.S. 53-377 shall deem itself aggrieved thereby, it may file an answer to the notice as in other civil actions and may also, upon notice to the Commissioner, apply to […]