Upon the entry of any final finding and decree as provided in § 30-3-108, the court shall proceed to wind up the receivership and terminate the proceedings:

(1) In the case of a finding under subsections (a) or (c) of § 30-3-108, that the absentee is dead:

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Terms Used In Tennessee Code 30-3-110

(A) By satisfying all outstanding debts and charges of the receivership; and
(B) By then certifying the proceedings to the probate court; or
(2) In the case of a finding under § 30-3-108(b):

(A) By satisfying all outstanding debts and charges;
(B) By then deducting for the insurance fund provided in § 30-3-113, a sum equal to twenty-five percent (25%) of the total value of the property remaining, including amounts paid to the receivership estate from policies of insurance on the absentee’s life; and
(C) By distributing the remaining property as provided in § 30-3-111; and
(3) In both cases by requiring the receiver’s account and upon its approval discharging the receiver and the receiver’s bondsmen and entering a final decree terminating the receivership.
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