53-387. Power to reject claims; notice; affidavit of service; action on claims.
If the Commissioner doubts the validity of any claim, the Commissioner may reject the claim, in whole or in part, and serve notice of the rejection upon the claimant, either personally or by certified mail, and an affidavit of the service of the notice shall be filed in the office of the clerk of the superior court of the county in which the action is pending and shall be conclusive evidence of the notice. Any action or suit upon a rejected claim shall be brought by the claimant against the Commissioner in the superior court of the county in which the action is pending within 90 days after service, or the action or suit shall be barred. Objections to any claim not rejected by the Commissioner may be made by any person interested by filing the objection in the pending action and by serving a copy thereof on the Commissioner. The Commissioner, after investigation, shall either allow the objection and reject the claim, or disallow the objection. If the objection is not allowed and the claim is not rejected, the Commissioner shall file a notice in the pending action and serve the notice upon the person making the claim and the person objecting to the claim. Within 10 days after the notice is filed, the person filing objection by motion in the pending action may question the validity of the claim, and the questions of law and issues of fact shall thereupon be determined as in other civil actions. (2001-263, s. 1.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 53 - Regulation of Financial Services
Article 24 - Trust Companies and Interstate Trust Business.
§ 53-302 - Title and purposes.
§ 53-303 - Companies authorized to engage in trust business.
§ 53-304 - Activities not requiring a charter, license, or approval.
§ 53-305 - Trust business of State trust institution.
§ 53-306 - Trust business of out-of-state trust institution.
§ 53-307 - Trust business of foreign trust institution.
§ 53-308 - Name of trust institution.
§ 53-309 - Trust deposits of authorized trust institutions.
§ 53-310 - Offices of State trust companies.
§ 53-311 - State trust company principal office.
§ 53-312 - Trust offices; representative trust offices.
§ 53-313 - Out-of-state trust offices and representative trust offices.
§ 53-314 - Trust business through a branch or trust office.
§ 53-315 - Establishing an interstate trust office.
§ 53-316 - Acquiring an interstate trust office.
§ 53-317 - Requirement of notice.
§ 53-319 - Additional trust offices; representative trust offices.
§ 53-320 - Examinations; periodic reports; cooperative agreements; assessment of fees.
§ 53-322 - Notice of transactions that cause a change in control.
§ 53-323 - Foreign trust institution application for trust office or representative trust office.
§ 53-324 - Conditions for approval.
§ 53-325 - Additional trust offices and representative trust offices.
§ 53-326 - Examinations; periodic reports; cooperative agreements; assessment of fees.
§ 53-328 - Notice of transactions that cause a change in control.
§ 53-329 - International agreements.
§ 53-330 - Title and purposes.
§ 53-331 - Organization and powers of State trust company.
§ 53-332 - Articles of incorporation of State trust company.
§ 53-334 - Notice and investigation of charter application.
§ 53-335 - Decision on charter application and hearing.
§ 53-336 - Issuance of charter.
§ 53-337 - Required initial capital.
§ 53-338 - Subordinated notes or debentures.
§ 53-339 - Application of laws relating to general business corporations.
§ 53-340 - Investment in State trust company facilities.
§ 53-342 - Securities and other investments.
§ 53-343 - Prohibited distributions, acquisitions, liens, or pledges.
§ 53-345 - Engaging in commerce prohibited.
§ 53-346 - Lending and lease financing; conversion to State bank.
§ 53-347 - Acquisition of control.
§ 53-348 - Application regarding acquisition of control.
§ 53-349 - Decision on acquisition of control.
§ 53-351 - Report of changes in chief executive officer or directors.
§ 53-352 - Board of directors.
§ 53-353 - Required board meetings.
§ 53-355 - Certain criminal offenses.
§ 53-356 - Responsibility of directors.
§ 53-358 - Bonding requirements; reports of apparent crime.
§ 53-359 - Merger, share exchange, or asset transfer authority.
§ 53-360 - Merger, share exchange, or asset transfer application.
§ 53-362 - Appraisal rights of shareholders in mergers, share exchanges, or asset transfers.
§ 53-363 - Private trust companies.
§ 53-364 - Requirements to apply for and maintain status as a private trust company.
§ 53-365 - Conversion to public trust company.
§ 53-367 - Commissioner shall have supervision over authorized trust institutions and shall examine.
§ 53-368 - Assessment of State trust companies.
§ 53-369 - Administrative orders; penalties for violation; increase of equity capital.
§ 53-370 - Notice and opportunity for hearing.
§ 53-371 - Removal of directors, officers, and employees.
§ 53-372 - Required vote of shareholders.
§ 53-373 - Corporate procedure.
§ 53-374 - Authority to liquidate; publication.
§ 53-375 - Examination and reports.
§ 53-376 - Unclaimed property.
§ 53-377 - When Commissioner may take charge.
§ 53-379 - Notice of seizure; bar to attachment of liens.
§ 53-380 - Notice to trust institutions, corporations, and others holding assets; existing liens.
§ 53-381 - Permission to resume business.
§ 53-382 - Remedy for seizure; answer to notice; injunction; appeal; and motions.
§ 53-384 - Bond of the Commissioner; surety; condition; minimum penalty.
§ 53-386 - Notice and time for filing claims.
§ 53-387 - Power to reject claims; notice; affidavit of service; action on claims.
§ 53-388 - List of claims presented, copies, and proviso.
§ 53-389 - Declaration of dividends; order of preference in distribution.
§ 53-390 - Deposit of funds collected.
§ 53-391 - Employment of counsel, accountants, and other experts; compensation.
§ 53-392 - Unclaimed dividends held in trust.
§ 53-393 - Action by the Commissioner following full settlement.
§ 53-395 - Compensation of the Commissioner's office.
§ 53-396 - Exclusive method of liquidation.
§ 53-397 - Disposition of books and records.
§ 53-398 - Destruction of books and records.
§ 53-399 - Petition for new trustee.
§ 53-400 - Report to the Secretary of State.
§ 53-401 - Provisions for conservator; duties and powers.
§ 53-403 - Termination of conservatorship.
§ 53-404 - Rights and liabilities of conservator.
§ 53-405 - Naming of conservator not liquidation.
§ 53-406 - Sale of assets by board of jeopardized State trust company.
§ 53-407 - Authority to act as disbursing agent.
§ 53-408 - Payment to creditors.
§ 53-409 - Issuance of preferred shares by jeopardized trust company.
§ 53-410 - Commissioner to act under authority of the Commission.
§ 53-412 - Commissioner hearings; appeals.
§ 53-414 - Cancellation of charter.
§ 53-420 - Affiliate transfers authorized; procedure.
§ 53-421 - Objection to affiliate transfer.
§ 53-422 - Effect of affiliate transfer.