§ 524-1308a

524.1308A Known claims against dissolved state bank. 1. A dissolved state bank may dispose of the known claims against it pursuant to this section. 2. The dissolved state bank shall notify its known claimants in writing of the dissolution at any time after the effective date of the dissolution. The written notice must include all ofthe following: a. A description of information that must be included in a claim.b. The mailing address where a claim may be sent.c. The deadline for submitting a claim, which may not be fewer than one hundred twenty days from the effective date of the written notice, by which the dissolved state bank mustreceive the claim. d. A statement that the claim will be barred if not received by the deadline.3. A claim against the dissolved state bank is barred if either of the following occur:a. A claimant who was given written notice under subsection 2 does not deliver the claim to the dissolved state bank by the deadline. b. A claimant whose claim was rejected by the dissolved state bank does not commence a proceeding to enforce the claim within ninety days from the effective date of the rejectionnotice. 4.

deadline. b. A claimant whose claim was rejected by the dissolved state bank does not commence a proceeding to enforce the claim within ninety days from the effective date of the rejectionnotice. 4. For purposes of this section, 'claim' does not include a contingent liability or a claim based upon an event occurring after the effective date of dissolution. 5. As used in this section, the term 'notice' means as defined in section 490.141. The written notice required by subsection 2 may be given by any method of delivery that ispermitted in section 490.141, and the notice is deemed to be delivered when the noticebecomes effective pursuant to section 490.141, subsection 9. 95 Acts, ch 148, §102; 2022 Acts, ch 1062, §110; 2023 Acts, ch 29, §7Referred to in §524.1308BSubsection 5 amended Sat Dec 23 01:23:21 2023 Iowa Code 2024, Section 524.1308A (24, 1)