Current with changes from the 2024 legislative session effective on or before 7/1/2024, from Acts 2,3, 6-535, and 580-647
Section 6:395 - Distribution of assetsA. All claims against the bank's assets, proved to the receiver's satisfaction or approved by the receivership court, shall be paid in the following order: (1) Administration expenses of the liquidation.(2) Claims given priority under other provisions of state or federal law.(4) Other general liabilities.(5) Debt subordinated to the claims of depositors and general creditors.(6) Equity capital securities.B. No interest on any claim shall be paid until all claims within the same class have received the full principal amount of the claim.Acts 1984, No. 719, §1, eff. Jan. 1, 1985.Acts 1984, No. 719, §1, eff. 1/1/1985.