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12 U.S.C. § 193 — Notice to present claims
submitted date unrecorded by Congress to r/title-12-BANKS-AND-BANKING · 46 words · no verdicts yet
in plain englishAI-generated · not legal advice
When the Comptroller appoints a receiver for a failed bank, notice must go out right away. This notice runs in newspapers for three straight months. It tells anyone with a claim against the bank to come forward and prove it.
As soon as the Comptroller appoints a receiver for a national bank association, the Comptroller must have a notice published. This notice must run as an advertisement in newspapers the Comptroller chooses, for three consecutive months. The notice tells anyone who has a claim against the bank to present that claim, and to provide legal proof of it.
the actual law source: uscode.house.gov ↗public domain
The Comptroller shall, upon appointing a receiver, cause notice to be given, by advertisement in such newspapers as he may direct, for three consecutive months, calling on all persons who may have claims against such association to present the same, and to make legal proof thereof.
Source credit: (R.S. § 5235.)
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