Page:United States Statutes at Large Volume 103 Part 1.djvu/259

 PUBLIC LAW 101-73 —AUG. 9, 1989 103 STAT. 231 "(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. "(9) AGREEMENT AS BASIS OF CLAIM.— "(A) REQUIREMENTS.— Except as provided in subpara- graph (B), any agreement which does not meet the require- ments set forth in section 13(e) shall not form the basis of, or substantially comprise, a claim against the receiver or the Corporation. "(B) EXCEPTION TO CONTEMPORANEOUS EXECUTION REQUIREMENT. —Notwithstanding section 13(e)(2), any agree- ment relating to an extension of credit between a Federal home loan bank or Federal Reserve bank and any insured depository institution which was executed before the exten- sion of credit by such bank to such institution shall be treated as having been executed contemporaneously with such extension of credit for purposes of subparagraph (A). "(10) PAYMENT OF CLAIMS.— "(A) IN GENERAL.— The receiver may, in the receiver's discretion and to the extent funds are available, pay credi- tor claims which are allowed by the receiver, approved by the Corporation pursuant to a final determination pursuant to paragraph (7) or (8), or determined by the final judgment of any court of competent jurisdiction in such manner and amounts as are authorized under this Act. "(B) PAYMENT OF DIVIDENDS ON CLAIMS. — The receiver may, in the receiver's sole discretion, pay dividends on proved claims at any time, and no liability shall attach to the Corporation (in such Corporation's corporate capacity or as receiver), by reason of any such payment, for failure to pay dividends to a claimant whose claim is not proved at the time of any such payment. "(11) DISTRIBUTION OF ASSETS.— "(A) SUBROGATED CLAIMS; CLAIMS OF UNINSURED DEPOSI- TORS AND OTHER CREDITORS.— The receiver shall— "(i) retain for the account of the Corporation such portion of the amounts realized from any liquidation as the Corporation may be entitled to receive in connec- tion with the subrogation of the claims of depositors; and "(ii) pay to depositors and other creditors the net amounts available for distribution to them. "(B) DISTRIBUTION TO SHAREHOLDERS OP AMOUNTS REMAIN- ING AFTER PAYMENT OF ALL OTHER CLAIMS AND EXPENSES.— In any case in which funds remain after all depositors, creditors, other claimants, and administrative expenses are paid, the receiver shall distribute such funds to the deposi- tory institution's shareholders or members together with the accounting report required under paragraph (14XC). "(12) SUSPENSION OF LEGAL ACTIONS.— "(A) IN GENERAL.— After the appointment of a conserva- tor or receiver for an insured depository institution, the conservator or receiver may request a stay for a period not ^ to exceed— "(i) 45 days, in the case of any conservator; and

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