375.670. Allowance of demands--receiver to review claims against receivership. - Missouri Statutes

Allowance of demands--receiver to review claims against receivership.

375.670. 1. The court, upon the application of thereceiver, shall establish claims procedures and shall limit andmay extend the time for the presentation of claims against thereceivership, and notice thereof shall be given in such manner assaid court shall direct; and any creditor neglecting to presenthis claim within the time so limited shall be debarred of allright to share in the assets of the insurer.

2. Claims presented against the receivership shall bereviewed by the receiver. The receiver shall either consent tothe claim in whole or in part or shall contest the claim. If thereceiver consents to the claim in whole or in part, he shall alsoclassify the claim according to the priority to which it isentitled under section 375.700. A written notice of his consentshall be given to the claimant or his attorney by first classmail at the address shown in the proof of claim. Whenever thereceiver objects to all or any portion of the claim, the claimshall be subject to the provisions of section 375.1214.

3. This section shall apply only to proceedings institutedbefore August 28, 1991.

(RSMo 1939 § 6060, A.L. 1988 S.B. 430, A.L. 1992 H.B. 1574)

Prior revisions: 1929 § 5949; 1919 § 6357; 1909 § 7087