§ 28-1-3.1-8 — Claims; presentation; notice; rejection

Indiana § 28-1-3.1-8

• Jurisdiction: Indiana
• Art. 1: DEPARTMENT OF FINANCIAL INSTITUTIONS
• Ch. 3.1: Liquidation of Financial Institutions

Text

(a) All parties having claims against the closed
financial institution shall present their claims supported by proof to the
receiver within one hundred eighty (180) days after the department has
taken possession.
(b) The receiver shall cause notice of the claims procedure
prescribed by this section to be:
(1) published once a week for twelve (12) consecutive weeks in
a newspaper of general circulation published in the county in
which the receivership court is located; and
(2) mailed to each person whose name appears as a creditor upon
books of the financial institution at the person's last address of
record.
(c) Within one hundred eighty (180) days following receipt of claim,
the receiver shall notify in writing any claimant whose claim has been
rejected. Notice is effective when mailed. Any claimant whose claim
has been rejected by the receiver may petition the receivership court for
a hearing on the claim within sixty (60) days from the date the claim is
rejected.
(d) If the Federal Deposit Insurance Corporation is the receiver,
compliance with this section is not required.

Legislative History

As added by P.L.141-1984, SEC.2. Amended by P.L.35-2010, SEC.103.