South Dakota § 51A-15-36 Settlement of claims by director or receiver in liquidation proceedings.

South Dakota Statutes

§ 51A-15-36 — Settlement of claims by director or receiver in liquidation proceedings.

South Dakota·Title 51A BANKS AND BANKING·Ch. 51A-15 SUSPENSION AND LIQUIDATION OF BANKS

Within six months after the last day specified in the notice for the filing of claims or such longer period as may be allowed by the circuit court, the director or receiver shall:

(1)Reject any claim determined to be invalid;

(2)Determine the amount, if any, owing to each known creditor or depositor and the priority class of his claim under this chapter;

(3)Prepare a schedule of such determinations for filing in the circuit court; and (4) Provide for legal publication in such newspapers as he shall determine, once a week for three successive weeks a notice of the time when and where the schedule of determinations will be available for inspection; and the date, not sooner than thirty days thereafter, when the director or receiver will file his schedule in court.

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Within six months after the last day specified in the notice for the filing of claims or such longer period as may be allowed by the circuit court, the director or receiver shall: (1) Reject any claim determined to be invalid; (2) Determine the amount, if any, owing to each known creditor or depositor and the priority class of his claim under this chapter; (3) Prepare a schedule of such determinations for filing in the circuit court; and (4) Provide for legal publication in such newspapers as he shall determine, once a week for three successive weeks a notice of the time when and where the schedule of determinations will be available for inspection; and the date, not sooner than thirty days thereafter, when the director or receiver will file his schedule in court.

South Dakota § 51A-15-36 (Settlement of claims by director or receiver in liquidation proceedings.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

SL 1911, ch 256, § 13; SL 1915, ch 102, art 1, § 17; RC 1919, § 8933; SDC 1939, § 6.0611; SDCL, §§ 51-14-33, 51-14-34; SL 1969, ch 11, § 13.19; SL 1970, ch 265, § 71; SL 1988, ch 377, § 178; SDCL, § 51-27-28.