Page:United States Statutes at Large Volume 103 Part 1.djvu/257

 PUBLIC LAW 101-73 —AUG. 9, 1989 103 STAT. 229 claim with the receiver shall constitute a commence- ment of an action. "(ii) No PREJUDICE TO OTHER ACTIONS. —Subject tO paragraph (12), the filing of a claim with the receiver shall not prejudice any right of the claimant to con- tinue any action which was filed before the appoint- ment of the receiver. "(6) PROVISION FOR AGENCY REVIEW OR JUDICIAL DETERMINA- TION OF CLAIMS. — "(A) IN GENERAL. — Before the end of the 60-day period beginning on the earlier of^ "(i) the end of the period described in paragraph (5)(A)(i) with respect to any claim against a depository institution for which the Corporation is receiver; or "(ii) the date of any notice of disallowance of such claim pursuant to paragraph (5)(A)(i), the claimant may request administrative review of the claim in accordance with subparagraph (A) or (B) of para- graph (7) or file suit on such claim (or continue an action commenced before the appointment of the receiver) in the district or territorial court of the United States for the district within which the depository institution's principal place of business is located or the United States District Court for the District of Columbia (and such court shall have jurisdiction to hear such claim). "(B) STATUTE OF UMiTATiONS. — If any claimant fails to— "(i) request administrative review of any claim in accordance with subparagraph (A) or (B) of paragraph (7); or "(ii) file suit on such claim (or continue an action commenced before the appointment of the receiver), before the end of the 60-day period described in subpara- graph (A), the claim shall be deemed to be disallowed (other than any portion of such claim which was allowed by the receiver) as of the end of such period, such disallowance shall be final, and the claimant shall have no further rights or remedies with respect to such claim. "(7) REVIEW OF CLAIMS.— "(A) ADMINISTRATIVE HEARING. — I f any claimant requests review under this subparagraph in lieu of filing or continu- ing any action under paragraph (6) and the Corporation agrees to such request, the Corporation shall consider the claim after opportunity for a hearing on the record. The final determination of the Corporation with respect to such claim shall be subject to judicial review under chapter 7 of title 5, United States Code. "(B) OTHER REVIEW PROCEDURES.— "(i) IN GENERAL.— The Corporation shall also estab- lish such alternative dispute resolution processes as may be appropriate for the resolution of claims filed under paragraph (5)(A)(i). "(ii) CRITERIA.—In establishing alternative dispute resolution processes, the Corporation shall strive for / procedures which are expeditious, fair, independent, and low cost. "(iii) VOLUNTARY BINDING OR NONBINDING PROCE- DURES.— The Corporation may establish both binding

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