Montana Code Annotated
Part 5. Dissolution, Closing, and Liquidation
32-1-532. Claims -- allowance and rejection

32-1-532. Claims -- allowance and rejection. (1) Except as provided in subsection (6), the department shall reject or allow all claims in whole or in part and on each claim allowed shall designate the order of its priority.
(2) If a claim is rejected or an order of priority allowed lower than that claimed, notice must be given the claimant personally or by common courier with tracking capability and an affidavit of the service of the notice, which is prima facie evidence of service, must be filed in the office of the department.
(3) The action of the department is final unless an action is brought by the claimant against the bank in the district court of the county in which the bank is located within 90 days after service. An appeal from the department's allowance may also be taken by any party in interest by serving notice on the department, stating the grounds of objection and filing an action in that court within 30 days after allowance.
(4) Within 5 days after the notice, the department shall file in the court and serve on the appellant a copy of the claim and its reasons for allowance.
(5) The court shall, after 5 days' notice of time and place of hearing on the issues raised, hear the proof of the parties and enter judgment reversing, affirming, or modifying the department's action.
(6) If the federal deposit insurance corporation is appointed as the liquidating agent, the provisions of subsections (1) through (5) do not apply and notice to creditors must be given pursuant to federal law.
History: En. Sec. 132, Ch. 89, L. 1927; re-en. Sec. 6014.142, R.C.M. 1935; amd. Sec. 54, Ch. 431, L. 1975; R.C.M. 1947, 5-1112; amd. Sec. 41, Ch. 395, L. 1993; amd. Sec. 26, Ch. 75, L. 2019.

Structure Montana Code Annotated

Montana Code Annotated

Title 32. Financial Institutions

Chapter 1. Banks and Trust Companies

Part 5. Dissolution, Closing, and Liquidation

32-1-501. Dissolution and disincorporation

32-1-502. Grounds for closing bank

32-1-503. Bank insolvent when

32-1-504. Deposits in insolvent bank

32-1-505. Penalty for receiving deposits when insolvent or for making false statements

32-1-506. Assessment on capital stock to make good impairment

32-1-507. Power of closed banks to borrow money from governmental agencies

32-1-508. Corporate existence -- ceases when

32-1-509. Taxes on banks which have ceased to do business

32-1-510. Penalty for maliciously declaring bank insolvent

32-1-511. Bank may be placed in department's possession

32-1-512. Effect of posting notice

32-1-513. Taking possession of bank -- notice

32-1-514. Resumption after closing

32-1-515. Powers of department on closing bank -- court proceedings

32-1-516. Recourse of aggrieved bank -- injunction

32-1-517. Department may retain bank employees -- liquidating agent's salary and expenses

32-1-518. Compensation of agents and attorneys

32-1-519. through 32-1-530 reserved

32-1-531. Notice to creditors of insolvent bank

32-1-532. Claims -- allowance and rejection

32-1-533. Payment of claims

32-1-534. Claims -- order of payment -- priorities

32-1-535. Claims -- partial payments -- assignments

32-1-536. Deposit of funds in department's hands

32-1-537. Disposition of unclaimed funds

32-1-538. Disposition of assets remaining after payment of claims

32-1-539. through 32-1-550 reserved

32-1-551. Liquidating officer's powers and duties

32-1-552. Further duties of liquidating officer

32-1-553. Department to file inventory -- report required -- exception

32-1-554. through 32-1-560 reserved

32-1-561. Definitions

32-1-562. Power of department

32-1-563. Powers of officers

32-1-564. Notice of bank closing

32-1-565. Effect of closing