Mississippi Code
Involuntary Dissolution and Liquidation
§ 81-27-8.111. Power to reject claims; notice; affidavit of service; action on claims

If the commissioner, or a duly appointed agent, doubts the validity of any claim, the commissioner or agent may reject the same and serve notice of such rejection upon the claimant, either personally or by registered mail, and an affidavit of the service of such notice shall be filed in the office of the chancery clerk in the pending action, and shall be conclusive evidence of such notice. Any action or suit upon rejected claim must be brought by the claimant against the commissioner or agent, in the chancery court of the county in which the state trust company is located within ninety (90) days after such service, or the same shall be barred. Objections to any claim not rejected by the commissioner, or the duly appointed agent, may be made by any person interested by filing such objection in the pending action and by serving a copy thereof on the commissioner, or duly appointed agent, and the commissioner, or duly appointed agent, after investigation, shall either allow such objection and reject the claim, or disallow the objection. If the objection is not allowed and the claim not rejected, the commissioner, or the duly appointed agent, shall file a notice to this effect in the pending action; and within ten (10) days thereafter, the person filing objection by motion in the pending action, a copy of which notice shall be served upon the person whose claim or deposit is objected to, and present to the court the question of the validity of the claim; and the questions of law and issues of fact shall thereupon be determined as in other civil actions.

Structure Mississippi Code

Mississippi Code

Title 81 - Banks and Financial Institutions

Chapter 27 - Multistate, State and Limited Liability Trust Institutions

Article 8 - Dissolution and Receivership; Conservatorship

Involuntary Dissolution and Liquidation

§ 81-27-8.101. When commissioner may take charge

§ 81-27-8.102. Directors may act

§ 81-27-8.103. Notice of seizure; bar to attachment

§ 81-27-8.104. Notice to trust institutions, corporations and others holding assets; liens not to accrue

§ 81-27-8.105. Permission to resume business

§ 81-27-8.106. Remedy for seizure; answer to notice, injunction; and appeal

§ 81-27-8.107. Collection of debts and claims; commissioner succeeds to all property of the state trust company

§ 81-27-8.108. Bond of the commissioner; surety; condition; minimum penalty

§ 81-27-8.109. Inventory

§ 81-27-8.110. Notice and time for filing claims

§ 81-27-8.111. Power to reject claims; notice; affidavit of service; action on claims

§ 81-27-8.112. List of claims presented and deposits; copies; proviso

§ 81-27-8.113. Declaration of dividends; order of preference in distribution

§ 81-27-8.114. Deposit of funds collected

§ 81-27-8.115. Employment of counsel; accountants; and other experts; compensation

§ 81-27-8.116. Unclaimed dividends held in trust

§ 81-27-8.117. Action by the commissioner following full settlement

§ 81-27-8.118. Annual report of the commissioner; items included

§ 81-27-8.119. Compensation of the commissioner

§ 81-27-8.120. Exclusive method of liquidation

§ 81-27-8.121. Disposition of books and records

§ 81-27-8.122. Destruction of books and records

§ 81-27-8.123. Trust terminated on insolvency of state trust company

§ 81-27-8.124. Petition for new trustee

§ 81-27-8.125. Publication and notice

§ 81-27-8.126. Appointment where no objection made

§ 81-27-8.127. Hearing upon objection

§ 81-27-8.128. Registration of final order

§ 81-27-8.129. Petition and order applicable to all instruments

§ 81-27-8.130. Additional remedy

§ 81-27-8.131. Report to the Secretary of State