Virginia Code 6.2-931: Notice and proof of claim; notice of rejection of claim; petition for hearing.
All parties having claims against the closed bank shall present their claims, substantiated by legal proof, to the FDIC as receiver within 180 days after the closing of the bank. The FDIC as receiver shall cause notice of the claims procedure prescribed by this section to be published once a week for 12 consecutive weeks in a newspaper of general circulation in one or more localities as the receivership court may direct, and shall mail such notice to the last address of record of each person whose name appears as a creditor upon books of the bank. The receiver shall notify in writing any claimant whose claim has been rejected within 180 days following receipt of the claim. Any claimant whose claim has been rejected by the receiver may petition the receivership court for a hearing on his claim within 60 days of the date of notice his claim is rejected. Notice shall be deemed given when mailed.
Terms Used In Virginia Code 6.2-931
- Bank: means any bank or trust company organized under the laws of the Commonwealth. See Virginia Code 6.2-925
- FDIC: means the Federal Deposit Insurance Corporation. See Virginia Code 6.2-800
- in writing: include any representation of words, letters, symbols, numbers, or figures, whether (i) printed or inscribed on a tangible medium or (ii) stored in an electronic or other medium and retrievable in a perceivable form and whether an electronic signature authorized by Virginia Code 1-257
- Person: means any individual, corporation, partnership, association, cooperative, limited liability company, trust, joint venture, government, political subdivision, or other legal or commercial entity. See Virginia Code 6.2-100
- Receivership court: means the circuit court that appoints a receiver for a bank pursuant to this article. See Virginia Code 6.2-925
1983, c. 507, § 6.1-110.7; 2010, c. 794.