6-395. Possession by deputy director and receivership If the status of a bank as an insured bank is terminated by the federal deposit insurance corporation or the deputy director finds that a bank is in such an unsafe or unsound condition that it is or will become unable to meet the anticipated demands of its […]
6-395.01. Powers of deputy director in possession When the deputy director has taken possession of a bank and until the appointment and qualification of the receiver, or the adjudication that no ground for the receivership exists, the deputy director shall be vested with the full and exclusive power of management and control. The deputy director […]
6-395.02. Federal deposit insurance corporation as receiver If the court grants the application for receivership of a bank it shall first tender the appointment as receiver to the federal deposit insurance corporation, which is authorized to qualify and act without bond. If the corporation accepts the appointment it shall have all of the powers, privileges […]
6-395.03. Federal deposit insurance corporation power pending judicial proceedings The federal deposit insurance corporation may pay out and acquire the insured deposit liabilities of a bank notwithstanding the possession by the deputy director or the pendency of receivership proceedings and for such purposes shall have the use of the facilities and records of the bank. […]
6-395.04. Right of subrogation of federal deposit insurance corporation The federal deposit insurance corporation shall be subrogated to the rights of depositors upon payment of their claims to the extent required by the law of the United States as a condition of the authority to insure deposits or make such payment.
6-395.05. Effect of receivership proceedings on liens and limitations A. Every lien against any asset of a bank obtained by attachment, judgment, levy or other legal or equitable process or proceedings after the filing of the application for the appointment of a receiver under this article shall be null and void as to the receiver […]
6-395.06. Rights, powers and duties of a receiver A. After taking possession of the bank, the receiver may do any of the following in its own name, in the name of the bank, in the name of both or otherwise: 1. Collect all obligations and money due the bank. 2. Exercise and possess all the […]
6-395.07. Sale of bank assets; authority to borrow monies; injunction; hearing A. The receiver may sell all or any part of the bank’s assets to another bank, to a savings and loan association, to the federal deposit insurance corporation or to an instrumentality of the United States government. The receiver may borrow from the federal […]
6-395.08. Rejection of contracts and leases on liquidation The receiver may at his election reject any executory contract to which the bank is a party or any obligation of the bank as a lessee of real or personal property. The claim of a lessor for damages for injury resulting from the rejection of an unexpired […]
6-395.09. Notice to claimants on liquidation As soon after the commencement of liquidation as practicable the receiver shall cause notice of the liquidation to be published in a newspaper of general circulation in each county in which the bank has an office, once a week for eight successive weeks. The notice shall demand that all […]
6-395.10. Disposition of unclaimed property A. As soon after the commencement of liquidation as practicable the receiver shall cause notice to be given by mail to each person at the address shown on the records of the bank who appears from the records to be a bailor of property held by the bank or a […]
6-395.11. Priority of claims; interest A. Claims allowed in a proceeding under this article shall be paid in the following order: 1. Costs and expenses of the administration of the receivership and liquidation. 2. Taxes due to this state. 3. Claims with priority under the laws of this state and under federal law. 4. Claims […]
6-395.12. Payment of claims and distribution to stockholders on liquidation From time to time after full provision has been made for the payment of disputed claims and claims having priority, the receiver shall make ratable distribution on all claims that have been proved to his satisfaction or adjudicated in a court of competent jurisdiction. After […]
6-395.13. Voluntary liquidation and dissolution A bank may voluntarily dissolve and wind up its affairs as any other corporation under the provisions of title 10, but a plan of liquidation or dissolution shall not be submitted to the stockholders until the deputy director on application by the bank finds that the bank has assets of […]
6-395.14. Voidable transactions A transaction that occurs within six months after the date on which the deputy director takes possession of a bank is voidable by the receiver if the transaction has the effect of enabling a creditor, affiliate, officer, director, stockholder or employee, or a relative of any of those persons, to obtain a […]
6-395.15. Notice of taking; effect On taking possession of the property and business of a bank, the receiver shall give notice of the taking to all persons who hold any assets of that bank. The notice required by this section is not a prerequisite to taking possession. A person who knows of the taking may […]
