The Florida Senate

663.176  Liquidation; notice of possession.--When the department has taken possession of an international banking corporation and has determined to liquidate the corporation's affairs, the department shall notify all persons who may have claims against the corporation to present such claims to the department and make proper proof of such claims within 4 months after the date of such notice and at a place specified in the notice; provided, if the department finds that a shorter period than 4 months will afford a reasonable time for presenting claims and making proof of such claims, the department may specify such shorter period which shall in no event be less than 30 days. In any event, the department shall specify in such notice the last day for processing claims and for making proof of such claims. The department shall cause such notice to be mailed to all persons whose names appear as creditors upon the books of the corporation. Such notice to persons appearing as depositors shall be mailed to the address appearing upon the deposit records or ledger of the corporation. The department shall also cause such notice to be published biweekly in such newspaper or newspapers as the department may direct in the county where the principal office of the corporation in the state is located and, in the department's discretion, elsewhere for publication 3 consecutive months, the first to be published more than 90 days before the last day fixed in such notice for presenting proof of claims. However, if the notice requires claims to be presented within less than 4 months, the department shall cause such notice to be published weekly in such newspaper or newspapers as the department may direct for 3 consecutive weeks, the first publication to be published more than 21 days before the last day fixed in such notice for presenting claims. Such notice shall specify that all persons having claims for priority of payment shall make demand in writing for priority in the proof of their claims. The department shall have no power to accept any claim presented after the date specified in such notice as the last date for presenting claims.

History.--s. 4, ch. 97-109.