Type: FCA Regulation
PART 627 - TITLE IV CONSERVATORS, RECEIVERS, AND VOLUNTARY LIQUIDATIONS
Subpart B - Receivers and Receiverships
§ 627.2755 Payment of claims.
(a) All claims of each class described in § 627.2745, § 627.2750, or § 627.2752 of this part, respectively, shall be paid in full, or provisions shall be made for such payment, prior to the payment of any claim of a lesser priority. If there are insufficient funds to pay in full any class of claims, distribution on such class shall be on a pro rata basis.
(b) Following the payment of all claims, the receiver shall distribute the remainder of the assets of the institution to the owners of stock, participation certificates, and other equities in accordance with the priorities for impairment set forth in the bylaws of the institution.
(c) Notwithstanding this section, eligible borrower stock shall be retired in accordance with section 4.9A of the Act.
[57 FR 46482, Oct. 9, 1992; as amended by 72 FR 54529, Sept. 26, 2007]
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