Page:United States Statutes at Large Volume 122.djvu/2764

 12 2 STA T . 2 74 1 PUBLIC LA W 11 0– 2 89—J UL Y3 0, 2008 acl a imw i th th er ecei v er s hall c on stit u te a commence - ment o f an action .‘ ‘ ( ii )NOPREJUDIC E T OOT H ER A CTIO NS . —S u bj ect to p ara g raph ( 10 ) , the filing of a claim with the receiver shall not preju d ice an y right of the claimant to continue any action which was filed before the date of the appointment of the receiver, subject to the determina- tion of claims by the receiver. ‘‘( 6 ) P RO V ISION F OR JUDICIA L DETER M INATION OF CLAIMS.— ‘‘( A ) I N G ENERAL.— T he claimant may file suit on a claim (or continue an action commenced before the appoint- ment of the receiver) in the district or territorial court of the U nited States for the district within which the prin- cipal place of business of the regulated entity is located or the United States D istrict C ourt for the District of Columbia (and such court shall have jurisdiction to hear such claim), 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 regulated entity for which the Agency is receiver or ‘‘(ii) the date of any notice of disallowance of such claim pursuant to paragraph (5)(A)(i). ‘‘( B ) STATUTE OF LIMITATIONS.—A claim shall be deemed to be disallowed (other than any portion of such claim which was allowed by the receiver), and such dis- allowance shall be final, and the claimant shall have no further rights or remedies with respect to such claim, if the claimant fails, before the end of the 60-day period described under subparagraph (A), to file suit on such claim (or continue an action commenced before the appoint- ment of the receiver). ‘‘( 7 ) R EVIE W OF CLAIMS.— ‘‘(A) O THER REVIEW PROCEDURES.— ‘‘(i) IN GENERAL.—The Agency shall establish 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 Agency shall strive for proce- dures which are e x peditious, fair, independent, and low cost. ‘‘(iii) V OLUNTAR YB INDING OR NONBINDING PROCE- DURES.—The Agency may establish both binding and nonbinding processes under this subparagraph, which may be conducted by any government or private party. All parties, including the claimant and the Agency, must agree to the use of the process in a particular case. ‘‘(B) CONSIDERATION OF INCENTIVES.—The Agency shall see k to develop incentives for claimants to participate in the alternative dispute resolution process. ‘‘( 8 ) EX PEDITED DETERMINATION OF CLAIMS.— ‘‘(A) ESTABLISHMENT RE Q UIRED.—The Agency shall establish a procedure for expedited relief outside of the routine claims process established under paragraph (5) for claimants who— Procedu re s.D e a d lin e.

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