§412:2-415  Notice of receivership; filingof claims.  (a)  Upon commencement of the receivership, the receiver shallpromptly give notice of the fact and purpose of the receivership in a formprescribed by the commissioner and directing depositors and creditors to fileany claims they might have against the institution within four months after thefirst publication of such notice.  Such notice may be by:

(1)  Publishing the notice in a newspaper of generalcirculation in every county where the financial institution engages in businessonce in each of three successive weeks;

(2)  Delivering the notice to all known depositors,creditors and parties holding any assets of the financial institution;provided, however, that notice of the fact and purpose of the receivership neednot be given to depositors of the institution all of whose deposits have beenpaid by a federal deposit insurer or assumed by a federally insured financialinstitution and who have received appropriate notice of such payment orassumption; and

(3)  Posting the notice in the principal office andeach branch and agency office of the institution.

(b)  Any claim which is not filed within fourmonths after the first date of publication of the notice required by subsection(a) shall be forever barred; provided, that this subsection shall not apply toany depositor or creditor whose claim appears on the records of theinstitution, to the extent shown on such records, whether or not the same isdisputed.

(c)  The receiver may reject a claim in writingwithin sixty days after receipt thereof, otherwise it shall be deemedaccepted.  Upon rejection of a claim by the receiver, the claimant may petitionthe circuit court for a review of the receiver's determination, provided thatany petition for review not filed within four months after the receipt by theclaimant of the notice of rejection from the receiver will be barred.  In lieuof review by the circuit court of the receiver's decision to reject a claim,the parties may mutually agree to have any claim decided by binding arbitrationbefore an arbitrator appointed by the commissioner or the court. [L 1993, c350, pt of §1]