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Can you summarize NERS 8-1,106?
BANKS AND BANKING > Insolvent banks; claims; filing; time limit.
Short Summary
This legal provision, found in the Nebraska Revised Statutes under the section on Banks and Banking, governs the process of filing claims against insolvent banks. According to the provision, the director of the bank must file a list of creditors with the district court within twenty days of the bank’s insolvency declaration. The director must also file an order setting the time and place for filing claims, which should be between thirty and sixty days from the date of the order. The director is required to notify known creditors by mailing them a copy of the order and a blank form for proof of claim. Additionally, the order must be posted on the bank’s door, and notice must be given through publication in newspapers. Claims, except for deposits and exchange claims, not presented within the specified time limit will be forever barred. However, claims for deposits or exchange shown by the bank’s books may be allowed if the creditor can demonstrate that they were not aware of the bank’s closure and did not receive notice in time to file their claim. This provision ensures a systematic and time-bound process for filing claims against insolvent banks.
Whom does it apply to?
Creditors of an insolvent bank
What does it govern?
Filing claims against insolvent banks
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
Claims not presented and filed within the specified time limit will be forever barred.
Jurisdiction
Nebraska