40-3632. Claims of creditors; allowance; avoidance; filing. - Kansas Statutes

40-3632

Chapter 40.--INSURANCE Article 36.--IMPAIRED OR INSOLVENT INSURERS

      40-3632.   Claims of creditors; allowance; avoidance; filing.(a) No claims of a creditor who has received or acquired apreference, lien, conveyance, transfer, assignment or encumbrance voidableunderthis act, shall be allowed unless the creditor surrenders the preference, lien,conveyance, transfer, assignment or encumbrance. If the avoidance is effectedby a proceeding in which a final judgment has been entered, the claim shall notbe allowed unless the money is paid or the property is delivered to theliquidator within 30 days from the date of the entering of final judgment,except that the court having jurisdiction over the liquidation may allowfurther time if there is an appeal or other continuation of the proceeding.

      (b)   A claim allowable under subsection (a) by reason of the avoidance,whether voluntary or involuntary, or a preference, lien, conveyance, transfer,assignment or encumbrance, may be filed as an excused last filing under K.S.A.40-3640 if filed within 30 days from the date of the avoidance, or within thefurther time allowed by the court under subsection (a).

      History:   L. 1991, ch. 125, § 28; July 1.