Sec. 36.301. FILING CLAIM. (a) This section applies only to a claim by a person, other than a shareholder acting in that capacity, who has a claim against a state bank in liquidation, including a claimant with a secured claim and a claimant under a fiduciary relationship who has been ordered by the receiver to file a proof of claim under Section 36.223.
(b) To receive payment of a claim, the person must present proof of the claim to the receiver:
(1) at a place specified by the receiver; and
(2) within the period specified by the receiver under Section 36.205.
(c) A claim that is not filed within the period specified by the receiver may not participate in a distribution of the assets by the receiver, except that, subject to court approval, the receiver may accept a claim filed not later than the 180th day after the date notice of the claimant's right to file a proof of claim is mailed to the claimant.
(d) A claim accepted and approved under Subsection (c) is subordinate to an approved claim of a general creditor.
(e) Interest does not accrue on a claim after the date the bank is closed for liquidation.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 59, eff. September 1, 2007.
Section: Previous 36.221 36.222 36.223 36.224 36.225 36.226 36.227 36.301 36.302 36.303 36.304 36.305 36.306 36.307 36.308 NextLast modified: September 28, 2016