Section 6-07.2-07 - Presentation of claims - Notice of claims procedure - Rejection of claims - Statute of limitations1. All parties having claims against the closed institution shall present the claims of the parties supported by proof to the receiver within one hundred eighty days after the commissioner has taken possession. This period may be extended by written agreement between the claimant and the receiver. The receiver shall cause notice of the claims procedures prescribed by this section to be made public and mailed to each person whose name appears as a creditor upon books of the institution at the person's last address of record. Within one hundred eighty days following receipt of the claim, the receiver shall notify in writing any claimant whose claim has been rejected. Notice is effective when mailed. A claimant whose claim has been rejected by the receiver may petition a court for a hearing on the claim within sixty days from the date the claim was rejected. The claim of a party against the closed institution must be disallowed, other than any portion of the claim which was allowed by the receiver, as of the end of the sixty-day period if the party having the claim fails to: a. Request an administrative review of any claim by the receiver in accordance with proper procedure; or b. File suit on the claim, or continue an action commenced before the appointment of the receiver, before the end of the sixty-day period.2. The disallowance is final, and the claimant has no further rights or remedies with respect to the claim.Added by S.L. 2021, ch. 77 (SB 2102),§ 9, eff. 8/1/2021.