New Hampshire Revised Statutes 395:30 – Distribution of Assets
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Payments of dividends under N.H. Rev. Stat. § 395:19 and any other proceeds of the property of a closed or insolvent New Hampshire depository institution shall be distributed according to the decree of the court in the following priority:
I. The payment of the costs and expenses of the liquidation.
II. The payment of wage, salary and other claims of employees to the same extent such claims would be accorded priority under federal bankruptcy law.
III. The payment of claims for deposit accounts including but not limited to “deposits” as defined in 12 U.S.C. § 1813(l), or as it may be later amended from time to time.
IV. The payment of liens accorded priority under New Hampshire law.
IV-a. Reimbursement of fees or costs paid in advance by a consumer in relation to a mortgage loan application when the mortgage loan was not processed due solely to the insolvency of the institution, but only to the extent such fees or costs were not paid over to a third party for services actually rendered prior to the insolvency.
V. The payment of all debts, claims, and obligations filed in accordance with N.H. Rev. Stat. § 395:13, not accorded priority in the preceding paragraphs.
VI. The payment of delayed claims in accordance with N.H. Rev. Stat. § 395:16.
VII. The payment of capital debentures issued under N.H. Rev. Stat. § 383-A:4-403 and any other obligations expressly subordinated to deposits and to claims entitled to the priority established in the preceding paragraphs.
VIII. Any funds remaining shall be divided in the case of a stock institution among the stockholders according to their respective interests or, in the case of a mutual institution, among the depositors in proportion to the respective amounts of their deposits.
IX. Interest shall be given the same priority as the claim on which it is based, but no interest shall be paid on any claim until the principal of all claims within the same class and all higher-priority classes have been paid or adequately provided for in full.
I. The payment of the costs and expenses of the liquidation.
Terms Used In New Hampshire Revised Statutes 395:30
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- following: when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
II. The payment of wage, salary and other claims of employees to the same extent such claims would be accorded priority under federal bankruptcy law.
III. The payment of claims for deposit accounts including but not limited to “deposits” as defined in 12 U.S.C. § 1813(l), or as it may be later amended from time to time.
IV. The payment of liens accorded priority under New Hampshire law.
IV-a. Reimbursement of fees or costs paid in advance by a consumer in relation to a mortgage loan application when the mortgage loan was not processed due solely to the insolvency of the institution, but only to the extent such fees or costs were not paid over to a third party for services actually rendered prior to the insolvency.
V. The payment of all debts, claims, and obligations filed in accordance with N.H. Rev. Stat. § 395:13, not accorded priority in the preceding paragraphs.
VI. The payment of delayed claims in accordance with N.H. Rev. Stat. § 395:16.
VII. The payment of capital debentures issued under N.H. Rev. Stat. § 383-A:4-403 and any other obligations expressly subordinated to deposits and to claims entitled to the priority established in the preceding paragraphs.
VIII. Any funds remaining shall be divided in the case of a stock institution among the stockholders according to their respective interests or, in the case of a mutual institution, among the depositors in proportion to the respective amounts of their deposits.
IX. Interest shall be given the same priority as the claim on which it is based, but no interest shall be paid on any claim until the principal of all claims within the same class and all higher-priority classes have been paid or adequately provided for in full.