§ 625. Effect of accepting claims and accounts; limitation upon
actions to establish claims and accounts; necessary allegations; effect
of judgment. 1. When the superintendent has accepted a duly filed claim
and has filed such claim endorsed "accepted" in his office, the
claimant, unless priority of payment has been duly demanded, and such
claim is entitled by law to priority of payment, shall be entitled to
share ratably with other general creditors in the distribution of the
proceeds of the liquidation of the assets of such banking organization
as such proceeds are distributed pursuant to section six hundred
twenty-seven of this article, provided, however, that any accepted claim
or claims for taxes owed to any taxing authority shall be paid in full,
to the extent that assets of the banking organization are available,
prior to the payment of any other accepted claim. Where the claimant has
duly demanded priority of payment, and such claim is entitled by law to
priority of payment, the receipt and acceptance of ratable dividends
shall be without prejudice to the right to such priority of payment.

2. When the superintendent has accepted an account payable as shown by
the books and records and as to which no claim has been presented and
included the same in the list filed in his office as provided in section
six hundred twenty-four of this article, the owner thereof shall be
entitled to share ratably with other general creditors in the
distribution of the proceeds of the liquidation of the assets of such
banking organization as such proceeds are distributed pursuant to
section six hundred twenty-seven of this article.

3. Within six months after the date that the superintendent files the
list required by subdivision four of section six hundred twenty-four of
this article listing the claims and accounts payable accepted or
rejected by the superintendent, a claimant whose claim has been duly
filed and has not been accepted by the superintendent, or any person
whose account payable as shown by the books and records, as to which no
claim has been presented, has not been accepted by the superintendent,
may institute and maintain an action thereon against such banking
organization. Such action may be maintained only in the supreme court in
the judicial district in which the principal office of such banking
organization was located.

4. No action shall be maintained against such banking organization
while the superintendent is in possession of its affairs and business
unless brought within the period of limitation specified in this
section. In all actions instituted against such banking organization
while the superintendent is in possession of its property and business,
the plaintiff shall be required to allege and prove that the claim upon
which the action is instituted was duly filed and that such claim has
not been accepted, or in the case of an action upon an account as to
which no claim has been presented the plaintiff shall be required to
allege and prove that such account appeared upon the books and records
and that such account has not been accepted.

5. If, in an action instituted in accordance with this section, the
court should determine that a claim or account rejected by the
superintendent should be allowed, the judgment entered therein shall so
provide and shall fix and determine the amount thereof as of the date
the superintendent took possession. A claim or account whose status and
amount have been so fixed shall have the same force and effect as a
claim or account which has been accepted by the superintendent in
accordance with the provisions of section six hundred twenty-four of
this article. Notwithstanding any other provision of law, the court
shall not award interest, nor shall interest accrue, in any such action
at a rate greater than the amount rate of interest, if any, that the
superintendent has determined is payable to other creditors; provided
further that the court shall not award interest, nor shall interest
accrue, except from the date from which the superintendent has
determined to pay interest to creditors whose claims or accounts payable
have been accepted or otherwise duly established to the date such claims
or accounts are paid; provided, however, that the court may in its
discretion award interest at a rate not to exceed the rate permitted by
section six hundred twenty-seven of this article on any such judgment
for the claimant in any such action for the period from the date such
claim would have been paid had it been accepted initially by the
superintendent to the date such judgment is paid.