166

LAWS OF MARYLAND

Ch. 11

(B) EXCEPT AS OTHERWISE ORDERED BY THE COURT ADMINISTERING
THE CONSERVATORSHIP OR RECEIVERSHIP, ANY ACTION OR PROCEEDING
DESCRIBED IN SUBSECTION (A)(1) OF THIS SECTION THAT IS PENDING AT
THE TIME THE CONSERVATORSHIP OR RECEIVERSHIP IS ESTABLISHED UNDER
THIS TITLE SHALL BE TRANSFERRED TO THE CIRCUIT COURT
ADMINISTERING THE CONSERVATORSHIP OR RECEIVERSHIP.

9-711.

(A)  THE CIRCUIT COURT ADMINISTERING A CONSERVATORSHIP OR
RECEIVERSHIP UNDER THIS TITLE HAS FULL POWER TO APPROVE AND ALLOW
OR TO REJECT AND DISALLOW CLAIMS AGAINST THE CONSERVATORSHIP OR
RECEIVERSHIP ESTATE.

(B)  IN A RECEIVERSHIP, THE COURT ADMINISTERING THE
RECEIVERSHIP MAY ESTIMATE FOR PURPOSES OF ALLOWANCE:

(1)  ANY CONTINGENT, UNLIQUIDATED, UNMATURED, OR
DISPUTED CLAIM, THE FIXING, LIQUIDATION, MATURATION, OR
SETTLEMENT OF THE DISPUTE , OF WHICH, WOULD DELAY THE
ADMINISTRATION OF THE RECEIVERSHIP; OR

(2)  ANY RIGHT TO PAYMENT ARISING FROM A RIGHT TO AN
EQUITABLE REMEDY FOR BREACH OF PERFORMANCE.

(C)  (1) IN A CONSERVATORSHIP OR RECEIVERSHIP, A COURT MAY
RECONSIDER FOR CAUSE ACCORDING TO THE EQUITIES OF THE CASE A
CLAIM THAT HAS BEEN ALLOWED OR DISALLOWED.

(2)  A RECONSIDERATION UNDER THIS SUBSECTION:

(I)  MUST BE FILED WITHIN 60 DAYS FROM THE DATE
OF THE COURT'S INITIAL DETERMINATION; AND

(II)  DOES NOT AFFECT THE VALIDITY OF ANY
PAYMENT OR TRANSFER FROM THE RECEIVERSHIP ESTATE THAT IS MADE TO
A HOLDER OF AN ALLOWED CLAIM ON ACCOUNT OF THE ALLOWED CLAIM THAT
IS NOT RECONSIDERED.

(3)  THIS SUBSECTION DOES NOT ALTER OR OTHERWISE
PREJUDICE THE RIGHT OF THE CONSERVATOR OR RECEIVER TO RECOVER ANY
EXCESS PAYMENT OR TRANSFER MADE TO A CREDITOR.

9-712.

(A)  IN THIS SECTION, SAVINGS AND LOAN ASSOCIATION INCLUDES
ITS AFFILIATES, SUBSIDIARIES, OR A HOLDING COMPANY.

(B)  (1) UPON APPLICATION OF THE CONSERVATOR OR RECEIVER, IF
THE COURT, AFTER NOTICE AND A HEARING, DETERMINES THAT THE
CONSIDERATION TO BE RECEIVED FROM A TRANSACTION IS FAIR AND
REASONABLE, THE CIRCUIT COURT ADMINISTERING A CONSERVATORSHIP OR
RECEIVERSHIP UNDER THIS TITLE MAY APPROVE ANY TRANSFER, SALE, OR
PLEDGE OF ANY OR ALL OF THE ASSETS OF THE SAVINGS AND LOAN
ASSOCIATION OR THE CONSERVATORSHIP OR RECEIVERSHIP ESTATE.