600.5221 Proof of claims; notice; filing; list of creditors.

238 words·~1 min read·/mi/chapter-600/600-5221

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Sec. 5221.

Within 10 days after receiving such trust, the assignee shall give notice to all creditors personally or by mail (accompanied by blank proof of claim) requiring them to prove their claims within 90 days thereafter by a proof of claim to be filed with the assignee, or in default thereof, that the assignee will proceed to distribute the estate as soon as practicable without reference to claims not proved when dividends are paid. It shall not be obligatory upon the assignee to receive proofs of claim after the expiration of said 90 day period except upon order of the court, and the court shall not allow any claim by any creditor so notified to be received after the expiration of 1 year from the date on which the assignment is filed.

Within 10 days after the expiration of said 90 day period the assignee shall serve personally or by mail upon each of the creditors a complete list of all creditors who have filed proof of claim giving in each instance the name, post office address and amount claimed. After the expiration of 20 days from the time when said notice is given, the assignee shall file all proofs of claim with the clerk of the court accompanied by any notices of contest which he may decide to make.

History: 1961, Act 236, Eff. Jan. 1, 1963