§ 380.35. Determination of claims.
230 words·~1 min read·
/us/cfr/t12/s§ 380.35·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)In general. The Corporation as receiver shall allow any claim received by the receiver on or before the claims bar date if such claim is proved to the satisfaction of the receiver. Except as provided in 12 U.S.C. 5390(a)(3)(D)(iii), the Corporation as receiver may disallow any portion of any claim by a creditor or claim of a security, preference, setoff, or priority which is not proved to the satisfaction of the receiver.
(b)Disallowance of claims filed after the claims bar date.
(1)Except as otherwise provided in this section, any claim filed after the claims bar date shall be disallowed, and such disallowance shall be final, as provided by 12 U.S.C. 5390(a)(3)(C)(i).
(2)Certain exceptions. Paragraph (b)(1) of this section shall not apply with respect to any claim filed by a claimant after the claims bar date and such claim shall be considered by the receiver if:
(i)The claimant did not receive notice of the appointment of the receiver in time to file such claim before the claims bar date, or the claim is based upon an act or omission of the Corporation as receiver that occurs after the claims bar date has passed, and
(ii)The claim is filed in time to permit payment. A claim is “filed in time to permit payment” when it is filed before a final distribution is made by the receiver.
Connectionstraces to 1
Traces to 1 document
Citation graph
cites case law
§ 380.35
Determination of claims.
Cites 1Cited by 0 across 0 sources