(a) When appointed as receiver under this chapter, the Director of the State Plant Board is authorized to give notice in the manner specified by the court to persons holding weigh tickets issued by the Class A registrant to file their claims within sixty (60) calendar days after the date of appointment.
(b) Failure to timely file a claim shall defeat the claim with respect to the surety bond and any catfish, or proceeds from the sale of catfish, except to the extent of any excess remaining after all timely claims are paid in full.