2016 Kentucky Revised Statutes
CHAPTER 286 - KENTUCKY FINANCIAL SERVICES CODE
Subtitle 3 - Banks and Trust Companies
286.3-868 Claims procedure -- Publication -- Rejection of claim -- Petition to receivership court.

Download as PDF 286.3-868 Claims procedure -- Publication -- Rejection of claim -- Petition to receivership court. All parties having claims against the bank shall present their claims substantiated by legal proof to the receiver within one hundred eighty (180) days after the bank closing. The receiver shall cause notice of the claims procedure prescribed by this section to be published once a week for twelve (12) consecutive weeks in a local newspaper of general circulation and to be mailed to each person whose name appears as a creditor upon books of the bank, at his last address of record. The receiver shall notify in writing any claimant whose claim has been rejected within one hundred eighty (180) days following receipt of his claim. Notice shall be effective when mailed. Any claimant whose claim has been rejected by the receiver may petition the receivership court for a hearing on his claim within sixty (60) days from the date his claim is rejected. Effective: July 13, 1984 History: Created 1984 Ky. Acts ch. 324, sec. 50, effective July 13, 1984. Formerly codified as KRS 287.868. Legislative Research Commission Note (7/12/2006). In accordance with 2006 Ky. Acts ch. 247, secs. 38 and 39, this statute has been renumbered as a section of the Kentucky Financial Services Code, KRS Chapter 286.