Page:United States Statutes at Large Volume 124.djvu/1491

 124 STAT. 1465 PUBLIC LAW 111–203—JULY 21, 2010 days after the date of the discovery of such name and address. (3) PROCEDURES FOR RESOLUTION OF CLAIMS.— (A) DECISION PERIOD.— (i) IN GENERAL.—Prior to the 180th day after the date on which a claim against a covered financial com- pany is filed with the Corporation as receiver, or such later date as may be agreed as provided in clause (ii), the Corporation shall notify the claimant whether it allows or disallows the claim, in accordance with subparagraphs (B), (C), and (D). (ii) EXTENSION OF TIME.—By written agreement executed not later than 180 days after the date on which a claim against a covered financial company is filed with the Corporation, the period described in clause (i) may be extended by written agreement between the claimant and the Corporation. Failure to notify the claimant of any disallowance within the time period set forth in clause (i), as it may be extended by agreement under this clause, shall be deemed to be a disallowance of such claim, and the claimant may file or continue an action in court, as provided in paragraph (4). (iii) MAILING OF NOTICE SUFFICIENT.—The require- ments of clause (i) shall be deemed to be satisfied if the notice of any decision with respect to any claim is mailed to the last address of the claimant which appears— (I) on the books, records, or both of the covered financial company; (II) in the claim filed by the claimant; or (III) in documents submitted in proof of the claim. (iv) CONTENTS OF NOTICE OF DISALLOWANCE.—If the Corporation as receiver disallows any claim filed under clause (i), the notice to the claimant shall con- tain— (I) a statement of each reason for the disallow- ance; and (II) the procedures required to file or continue an action in court, as provided in paragraph (4). (B) ALLOWANCE OF PROVEN CLAIM.—The receiver shall allow any claim received by the receiver on or before the date specified in the notice under paragraph (2)(B)(i), which is proved to the satisfaction of the receiver. (C) DISALLOWANCE OF CLAIMS FILED AFTER END OF FILING PERIOD.— (i) IN GENERAL.—Except as provided in clause (ii), claims filed after the date specified in the notice pub- lished under paragraph (2)(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 a claimant after the date specified in the notice published under paragraph (2)(B)(i), and such claim may be considered by the receiver under subparagraph (B), if— Deadline. Notification.