§ 51.5. Order of priorities.
72 words·~1 min read·
/us/cfr/t12/s§ 51.5·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The OCC will pay receivership expenses and proved claims against the uninsured bank in receivership in the following order of priority:
(a)Administrative expenses of the receiver;
(b)Unsecured creditors of the uninsured bank, including secured creditors to the extent their claim exceeds their valid and enforceable security interest;
(c)Creditors of the uninsured bank, if any, whose claims are subordinated to general creditor claims; and
(d)Shareholders of the uninsured bank.