Section 13-4-404 – Rejection of Claims; Allowance of Late Claims.
13-4-404. Rejection of claims; allowance of late claims. If the state banking commissioner doubts the validity of any claim he may reject it and serve notice of the rejection upon the claimants either by mail or personally. An affidavit of the service of the notice, which is prima facie evidence of the service, shall be […]
Section 13-4-405 – Objection to Claims Not Rejected.
13-4-405. Objection to claims not rejected. Objection to any claim not rejected by the state banking commissioner may be made by any interested party by filing a copy of the objection with the state banking commissioner, who shall present the objection to the district court after giving written notice to the party filing the objection […]
Section 13-4-406 – Deposit of Money Collected.
13-4-406. Deposit of money collected. Moneys collected by the state banking commissioner shall be deposited in one (1) or more banks subject to his order and protected by bond in the same manner as deposits of public funds.
Section 13-4-501 – Expenses of Liquidation First Priority.
13-4-501. Expenses of liquidation first priority. The expenses incurred by the state banking commissioner in the liquidation of a bank include the expenses of examiners employed in the liquidation and reasonable attorney fees incurred in the course of the liquidation. Compensation for these services shall be fixed by the state banking commissioner. The expenses shall […]
Section 13-4-502 – Preference to Negotiable Instruments.
13-4-502. Preference to negotiable instruments. (a) Negotiable instruments issued by a bank as drawee in payment of checks or drafts deposited in any other bank for collection are entitled to preferred payment upon the insolvency of the issuing bank. (b) Negotiable instruments issued by any collecting bank in exchange for checks or drafts deposited with […]
Section 13-4-402 – Notice to Creditors.
13-4-402. Notice to creditors. The state banking commissioner shall give notice in newspapers as he may direct weekly for three (3) consecutive months, notifying persons who may have claims against the bank to present them to the state banking commissioner and to make legal proof of the claims at a place and a time not […]
Section 13-4-403 – Reports; Inspection and Filing.
13-4-403. Reports; inspection and filing. (a) After taking possession of the assets of a bank, the state banking commissioner shall make and file the following reports: (i) An inventory of the assets of the bank; (ii) After the deadline for the presentation of claims, a complete list of the claims presented and indicating the claims […]
Section 13-4-305 – Appointment of Deputy Examiners.
13-4-305. Appointment of deputy examiners. The state banking commissioner may appoint special deputy state banking commissioners as agents to assist him in the duty of liquidation and distribution. A certificate of appointment shall be filed in the office of the county clerk of the county in which the bank was located. The state banking commissioner […]
Section 13-4-306 – When Bank Permitted to Continue Business.
13-4-306. When bank permitted to continue business. (a) If the state banking commissioner discovers upon taking possession of a bank that the bank is only temporarily embarrassed for want of available funds and that the bank’s assets are sufficient to pay its liabilities leaving its capital unimpaired, or if the stockholders of the bank make […]
Section 13-4-401 – General Powers and Duties of Commissioner.
13-4-401. General powers and duties of commissioner. After taking possession of the bank the state banking commissioner may collect money due the bank, perform acts necessary to preserve its assets and business and shall proceed to liquidate the bank’s affairs except as otherwise provided. The state banking commissioner shall collect all claims belonging to the […]