Page:United States Statutes at Large Volume 103 Part 1.djvu/560

 103 STAT. 532 PUBLIC LAW 101-73—AUG. 9, 1989 "(ii) upon discovery of the name and address of a claimant not appearing on the credit union's books within 30 days after the discovery of such name and address. "(4) RULEMAKING AUTHORITY RELATING TO DETERMINATION OF CLAIMS. —The Board may prescribe regulations regarding the allowance or disallowance of claims by the liquidating agent and providing for administrative determination of claims and review of such determination. "(5) PROCEDURES FOR DETERMINATION OF CLAIMS.— " (A) DETERMINATION PERIOD, — "(i) IN GENERAL. —Before the end of the 180-day period beginning on the date any claim against a credit union is filed with the Board as liquidating agent, the Board shall determine whether to allow or disallow the claim and shall notify the claimant of any determina- tion with respect to such claim. "(ii) EXTENSION OF TIME. — The period described in clause (i) may be extended by a written agreement between the claimant and the Board. "(iii) MAILING OF NOTICE SUFFICIENT.—The require- ments of clause (i) shall be deemed to be satisfied if the notice of any determination with respect to any claim is mailed to the last address of the claimant which appears— "(I) on the credit union's books; "(II) in the claim filed by the claimant; or "(III) in documents submitted in proof of the claim. " (iv) CONTENTS OF NOTICE OF DISALLOWANCE.— I f any claim filed under clause (i) is disallowed, the notice to the claimant shall contain— "(I) a statement of each reason for the disallow- ance; and "(II) the procedures available for obtaining agency review of the determination to disallow the claim or judicial determination of the claim. "(B) ALLOWANCE OF PROVEN CLAIMS. —The liquidating agent shall allow any claim received on or before the date specified in the notice published under paragraph (3)(B)(i) by the liquidating agent from any claimant which is proved to the satisfaction of the liquidating agent. "(C) DISALLOWANCE OF CLAIMS FILED AFTER END OF FIUNG PERIOD.— "(i) IN GENERAL.—Except as provided in clause (ii), claims filed after the date specified in the notice pub- lished under paragraph (3)(B)(i) shall be disallowed and such disallowance shall be final, "(ii) CERTAIN EXCEPTIONS. — Clause (i) shall not apply with respect to any claim filed by any claimant after the date specified in the notice published under para- graph (3)(B)(i) and such claim may be considered by the liquidating agent if— "(I) the claimant did not receive notice of the appointment of the liquidating agent in time to file such claim before such date; and

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