§ 81-9-73. When Federal Deposit Insurance Corporation or any similar corporation to be appointed receiver
Whenever the state comptroller shall apply for appointment of a receiver under the provisions of this chapter, and the deposits of such bank shall be to any extent insured by the Federal Deposit Insurance Corporation, or any similar corporation organized under the laws of the United States, and it shall appear that said corporation will […]
§ 81-9-75. Priority of claims for payment against certain insolvent banks upon liquidation or upon execution of purchase of assets and assumption of liabilities
On liquidation of a state or private bank or on execution of a purchase of certain assets and assumption of certain liabilities of a state bank under this chapter, claims for payment against that state bank have the following priority: Obligations incurred by the Banking Commissioner, fees and assessments due to the Department of Banking […]
§ 81-9-59. Compensation of liquidator and other employees
The directors shall fix the compensation of the liquidator, may employ and fix the compensation of counsel for the corporation; and may employ and fix the compensation of such clerical and other employees as they may deem necessary or advisable to carry on the business of the corporation.
§ 81-9-61. Exercise of discretion without approval of court
By authority of order on the minutes signed by all five directors, the corporation may do and perform, without approval of court, the following, to-wit: Employ and fix the compensations of the liquidator, counsel and other employees; Lease premises to be occupied by the corporation as business quarters; Borrow money, execute promissory notes, and pledge […]
§ 81-9-63. Sale of assets to going bank
By and with the approval of the chancellor and of the state comptroller any liquidating corporation may sell any portion or all of the assets of the bank being liquidated by such corporation to an active and operating bank, the purchase price to be in cash or on terms, or otherwise; or, the purchasing bank […]
§ 81-9-65. Corporation and directors may be restrained
On petition of any party aggrieved, filed in the depositor liquidation cause, the liquidating corporation and its directors and officers may, as in other cases, be enjoined by the chancellor from actual abuse of discretion.
§ 81-9-67. Liquidating corporations may apply to court for directions
Liquidating corporations shall have the power to apply in vacation to the chancellor for orders and directions concerning the liquidation, and this section shall be liberally construed in favor of speedy and economical liquidations.
§ 81-9-69. Records and inspection thereof
Full and complete minutes shall be kept of all proceedings of the directors, and full and complete records and books of account shall be kept by the corporation. The directors shall have discretion to grant to parties of interest reasonable inspection and permission to take copies of all such minutes, records and books, and such […]
§ 81-9-71. Final report and dissolution of the corporation
When the affairs of the bank shall be completely liquidated, or liquidated in so far as it is practical for the directors so to do, they shall make, or cause to be made, to the chancery court of the county in which the corporation is domiciled a final report, the correctness of which shall be […]
§ 81-9-41. Liquidation of solvent bank
Any bank found to be solvent may be liquidated, if desired by the bank, in accordance with this section. It is the purpose of this section to require that the claims of all depositors and creditors as reflected by the books of the bank, be paid, whether proven or not, provided they are called for […]