28-1-3.1-20. Dissolution and Cessation of Existence
Sec. 20. Upon the issuance of the certificate of dissolution and the recording of the articles of dissolution, as provided in section 19 of this chapter, the financial institution shall be dissolved and its existence shall cease. As added by P.L.141-1984, SEC.2.
28-1-3.1-21. Troubled or Insolvent Financial Institutions; Federal Supervisory Agencies; Department’s Authority to Approve Transactions
Sec. 21. Whenever a federal supervisory agency is bidding, consolidating, merging, selling, or otherwise resolving or disposing of a troubled, an insolvent, or an imminently insolvent financial institution, the director of the department may approve any transaction, including the purchase of assets, the assumption of liabilities, a merger, or the formation of a new financial […]
28-1-3.1-18. Articles of Dissolution; Duties of Secretary of State
Sec. 18. Upon presentation of the articles of dissolution as provided in section 17 of this chapter, the secretary of state shall: (1) endorse his approval upon each of the triplicate copies of the articles if he finds that they conform to law; (2) when all fees have been paid as required by law: (A) […]
28-1-3.1-19. Articles of Dissolution; Filing With County Recorder
Sec. 19. The department shall file for record with the county recorder of the county where the principal office of the financial institution is located one (1) of the triplicate copies of the articles of dissolution bearing the endorsement of the approval of the secretary of state as provided in section 18 of this chapter. […]
28-1-3.1-5. Receiver; Appointment; Vesting of Title to All Assets and Right to Terminate Affairs of Institution; Liens or Claims Against Property
Sec. 5. (a) The department may appoint the receiver of the closed financial institution. Unless the receiver is the Federal Deposit Insurance Corporation, the department, upon acceptance of the appointment of a receiver, shall make immediate application to the receivership court for confirmation of the receiver. The receivership court shall approve the department’s application if […]
28-1-3.1-6. Receiver; Authority
Sec. 6. The receiver of a closed financial institution may do the following: (1) Take possession of all books, records, and assets of the financial institution. (2) Collect all debts, claims, and judgments belonging to the financial institution and do such other acts as are necessary to preserve and liquidate its assets. (3) Execute in […]
28-1-3.1-7. Receiver’s Authority to Sell Assets; Borrowing of Money for Deposit Liabilities
Sec. 7. The receiver may, with ex parte approval of the receivership court, sell all or any part of the financial institution’s assets to another state or federally chartered financial institution or to a federal deposit insurance agency acting in its corporate capacity. The Federal Deposit Insurance Corporation is not required to seek ex parte […]
28-1-3.1-8. Claims; Presentation; Notice; Rejection
Sec. 8. (a) All parties having claims against the closed financial institution shall present their claims supported by proof to the receiver within one hundred eighty (180) days after the department has taken possession. (b) The receiver shall cause notice of the claims procedure prescribed by this section to be: (1) published once a week […]
28-1-3.1-9. Late Claims
Sec. 9. Any claims filed after the one hundred eighty (180) day claim period prescribed by section 8 of this chapter and subsequently accepted by the receiver or allowed by the receivership court shall be entitled to share in the distribution of assets only to the extent of the undistributed assets in the hands of […]
28-1-3.1-10. Repealed
As added by P.L.141-1984, SEC.2. Repealed by P.L.42-1993, SEC.103.