(a) 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 court administrator or with the receiver in a form prescribed by the court.
Terms Used In Tennessee Code 43-38-1020
Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
Cooperative: means an association organized under this title conducting business on a cooperative plan as provided under this chapter. See Tennessee Code 43-38-103
(b) If the court requires the filing of claims, the court shall:
(1) Set a date, by order, at least one hundred twenty (120) days after the date the order is filed, as the last day for the filing of claims; and(2) Prescribe the notice of the fixed date that shall be given to creditors and claimants.(c) 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.
