Current through 2024 Legislative Session
Section 6-07.2-10 - Rejection of contracts and leases1. Within one hundred eighty days after the date the commissioner has taken possession, the receiver may reject:a. An executory contract to which the closed institution is a party without any further liability to the closed institution or the receiver; and b. An obligation of the institution as a lessee of real or personal property.2. The receiver's election to reject a lease does not create a claim for rent other than rent accrued to the date of termination.Added by S.L. 2021, ch. 77 (SB 2102),§ 9, eff. 8/1/2021.