501A.1211 - FILING CLAIMS IN COURT-SUPERVISED DISSOLUTION PROCEEDINGS.
501A.1211 FILING CLAIMS IN COURT-SUPERVISED DISSOLUTION PROCEEDINGS. 1. Filing under oath. In proceedings to dissolve a cooperative, the court may require all creditors and claimants of the cooperative to file their claims under oath with the clerk of court or with the receiver in a form prescribed by the court. 2. Date to file a claim. If the court requires the filing of claims, the court shall do all of the following: a. Set a date, by order, at least one hundred twenty days after the date the order is filed as the last day for the filing of claims. b. Prescribe the notice of the fixed date that shall be given to creditors and claimants. 3. Fixed date or extension for filing. Before the fixed date, the court may extend the time for filing claims. Creditors and claimants failing to file claims on or before the fixed date may be barred, by order of court, from claiming an interest in or receiving payment out of the property or assets of the cooperative.
Section History: Recent Form 2005 Acts, ch 135, §95