Code of Virginia - Title 6.1 Banking And Finance - Section 6.1-110.7 Notice and proof of claim; notice of rejection of claim; petition for hearing

§ 6.1-110.7. Notice and proof of claim; notice of rejection of claim; petition for hearing

All parties having claims against the closed bank shall present their claims, substantiated by legal proof, to the receiver within 180 days after the closing of the bank. The receiver shall cause notice of the claims procedure prescribed by this section to be published once a week for twelve consecutive weeks in a newspaper of general circulation in one or more localities as the receivership court may direct, and shall mail such notice to the last address of record of each person whose name appears as a creditor upon books of the bank. The receiver shall notify in writing any claimant whose claim has been rejected within 180 days following receipt of the claim. Any claimant whose claim has been rejected by the receiver may petition the receivership court for a hearing on his claim within sixty days of the date of notice his claim is rejected. Notice shall be deemed given when mailed.

(1983, c. 507.)

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Last modified: April 2, 2009