Section 395:11 – No Extra Compensation to Commissioner.
395:11 No Extra Compensation to Commissioner. – The commissioner shall not receive any extra compensation for his services. Source. 1911, 68:10. PL 268:11. RL 316:11.
Section 395:2 – Orders.
395:2 Orders. – The court may issue an injunction prohibiting, as far as may be thought necessary, the transaction of any business of said institution and the commissioner shall cause the same to be served. Any justice of the superior court, upon petition and notice to the commissioner, may dissolve, modify, continue or extend […]
Section 395:3 – Resuming Business.
395:3 Resuming Business. – Such institutions may, with the consent of the commissioner, resume business upon such conditions as the commissioner may approve. Source. 1911, 68:3. PL 268:3. RL 316:3.
Section 395:4 – Insolvency.
395:4 Insolvency. – Whenever it appears to the commissioner that any institution to which this chapter applies reflects negative equity capital, as determined by the most recent report of examination conducted by the banking department or a federal deposit insuring agency, the commissioner may represent the facts by ex parte petition to some justice […]
Section 395:5 – Commissioner’s Duties.
395:5 Commissioner’s Duties. – Upon taking possession of the property and business of any institution to which this chapter applies, the commissioner shall have authority to collect money due the institution and to do such other acts as are necessary to conserve its assets and business. He shall collect all debts due and claims […]
Section 395:6 – Inventory.
395:6 Inventory. – The commissioner shall make an inventory of the assets of the institution in duplicate, one to be filed in the office of the commissioner, and one in the office of the clerk of the superior court for the county in which the principal office of the institution is located. Source. 1911, […]
Section 395:7 – Notice.
395:7 Notice. – The commissioner shall give notice of the fact that he has taken possession of the property and business of the institution to any and all banks, trust companies, associations and individuals holding or having possession of any assets of such institution. Source. 1911, 68:5. PL 268:7. RL 316:7.
Section 395:8 – Effect.
395:8 Effect. – No bank, trust company, association or individual, knowing that the commissioner has taken such possession, or having been notified thereof as aforesaid, shall have a lien or charge for any payment, advance or clearance thereafter made, or liability thereafter incurred, against any of the assets of the institution. Source. 1911, 68:5. […]
Section 395:9 – Commissioner’s Authority.
395:9 Commissioner’s Authority. – For the purpose of executing and performing the powers and duties hereby conferred upon him, the commissioner may, in the name of any such institution, prosecute and defend any legal proceedings, and may in the name of the institution execute, acknowledge and deliver any instruments necessary and proper to effectuate […]
Section 395:10 – Appointment of Agents.
395:10 Appointment of Agents. – The commissioner may appoint agents to assist him to perform such duties connected with the business of such institutions as he may deem proper, and may procure such expert assistance and advice, or retain such of the officers or employees of such institution, as he may deem necessary; and […]