The receiver shall cause notice to be given by advertisement in such newspaper as he may direct, once a week for six consecutive weeks, calling all persons who may have claims, but not including deposits or certificates of deposit shown by the books of the bank which shall be a prima facie proven claim against the bank, against such bank to present the same to the receiver and make legal proof thereof at a place and within a time to be specified in the notice, not less than 90 days from the day of the first publication of the notice. The receiver shall mail a similar notice to all persons whose names appear as creditors upon the books of the bank.
Structure Code of Alabama
Title 5 - Banks and Financial Institutions.
Chapter 8A - Liquidation of Banks.
Section 5-8A-21 - Liquidation of Bank by Superintendent Without Assent of Banking Board.
Section 5-8A-22 - Institution of Civil Action for Vacation of Charter, Liquidation, etc., of Bank.
Section 5-8A-24 - Appointment of Receiver to Liquidate Bank.
Section 5-8A-25 - Passage of Title to Assets, etc., of Banking Institution to Receiver.
Section 5-8A-26 - Use of Bank Examiner's Reports as Evidence in Liquidation Proceedings, Etc.
Section 5-8A-28 - Creation of Liens Against Bank After Possession by Superintendent.
Section 5-8A-29 - Resumption of Business of Bank.
Section 5-8A-30 - Collection of Claims of Bank, Etc.
Section 5-8A-31 - Subrogation of Federal Deposit Insurance Corporation.
Section 5-8A-32 - Sale, etc., of Bad Debts and Property of Bank.
Section 5-8A-33 - Negotiation of Loans, Granting of Security, etc., on Behalf of Closed Bank.
Section 5-8A-34 - Loans From and Sale of Assets to Federal Deposit Insurance Corporation for Bank.
Section 5-8A-35 - Assumption or Rejection of Executory Contracts by Receiver.
Section 5-8A-37 - Payment of Compensation.
Section 5-8A-38 - Deposit of Funds Collected by Receiver.
Section 5-8A-39 - Notice for and Filing of Claims Against Bank.
Section 5-8A-40 - Preferred Claims.
Section 5-8A-41 - Inventory of Assets of Bank; Filing List of Claims.
Section 5-8A-42 - Objections to Claims; Unproven or Unclaimed Deposits.
Section 5-8A-43 - Rejection of Claims.
Section 5-8A-44 - Actions Upon Rejected Claims; Late Claims.
Section 5-8A-45 - Payment of Dividends to Creditors.
Section 5-8A-46 - Final Distribution, Termination of Receivership and Dissolution of Bank.