Page:United States Statutes at Large Volume 103 Part 1.djvu/258

 103 STAT. 230 PUBLIC LAW 101-73—AUG. 9, 1989 and nonbinding processes, which may be conducted by any government or private party, but all parties, including the claimant and the Corporation, must ^ agree to the use of the process in a particular case. , "(iv) CONSIDERATION OP INCENTIVES.— The Corpo- ' ration shall seek to develop incentives for claimants to participate in the alternative dispute resolution process. " (8) EXPEDITED DETERMINATION OF CLAIMS.— "(A) ESTABLISHMENT REQUIRED.— The Corporation shall establish a procedure for expedited relief outside of the routine claims process established under paragraph (5) for claimants who— "(i) allege the existence of l^ally valid and enforce- able or perfected security interests in assets of any depository institution for which the Corporation has been appointed receiver; and "(ii) sdl^e that irreparable injury will occur if the ' routine claims procedure is followed. "(B) DETERMINATION PERIOD. —Before the end of the 90- day period beginning on the date any claim is filed in accordance with the procedures established pursuant to subparagraph (A), the Corporation shall— "(i) determine— "(I) whether to allow or disallow such claim; or "(II) whether such claim should be determined pursuant to the procedures established pursuant to paragraph (5); and ^ "(ii) notify the claimant of the determination, and if the claim is disallowed, a statement of each reason for the disallowance and the procedure for obtaining /, agency review or judicial determination. "(C) PERIOD FOR FiuNG OR RENEWING SUIT.— Any claimant who files a request for expedited relief shall be permitted to ^ . ^• file a suit, or to continue a suit filed before the appointment of the receiver, seeking a determination of the claimant's rights with respect to such security interest after the ear- lier of— "(i) the end of the 90-day period beginning on the .'1. date of the filing of a request for expedited relief; or "(ii) the date the Corporation denies the claim. "(D) STATUTE OF UMFTATIONS.—I f an action described in >c subparagraph (C) is not filed, or the motion to renew a previously filed suit is not made, before the end of the 30- day period beginning on the date on which such action or motion may be filed in accordance with subparagraph (B), the claim shall be deemed to be disallowed as of the end of such period (other than any portion of such claim which Hi" was allowed by the receiver), such disallowance shall be final, and the claimant shall have no further rights or remedies with respect to such claim. "(E) LEGAL EFFECT OF FiuNG. — 11> "(i) STATUTE OF LIMITATION TOLLED.—For purposes of any applicable statute of limitations, the filing of a i' claim with the receiver shall constitute a commence- u*t-i ment of an action.

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