US Lawyer Database

626 – Judgments Recovered Shall Not Be Liens.

§ 626. Judgments recovered shall not be liens. A lien shall not attach to any of the property or assets of any banking organization by reason of the entry of any judgment recovered against such banking organization after the superintendent has taken possession of its property and business and so long as such possession continues.

613 – Payment by Superintendent of Expenses of Liquidation.

§ 613. Payment by superintendent of expenses of liquidation. The superintendent shall pay out of the funds in his hands of any banking organization of which he is in possession, all expenses of liquidation, subject to the approval of the supreme court in the judicial district in which the principal office of such banking organization […]

615 – On Taking Possession, Superintendent Shall Notify Those Holding Assets; Effect of Notification; Turnover of Assets and Payment of Debts Owed to the Ba

§ 615. On taking possession, superintendent shall notify those holding assets; effect of notification; turnover of assets and payment of debts owed to the banking organization. When the superintendent shall take possession of the property and business of any banking organization: 1. The superintendent shall forthwith give notice of such fact to all corporations, unincorporated […]

616 – Inventory of Assets; Where Filed.

§ 616. Inventory of assets; where filed. After the superintendent shall have taken possession of and shall have determined to liquidate the property and business of any banking organization, he shall make in duplicate an inventory of the assets of such banking organization. He shall file one copy of such inventory in his office and […]

618 – Liquidation and Conservation of Assets; Compromising Debts and Claims; Deposit of Moneys Collected; Preference; Superintendent, as Liquidator, Authori

§ 618. Liquidation and conservation of assets; compromising debts and claims; deposit of moneys collected; preference; superintendent, as liquidator, authorized to borrow on and pledge assets of banks. 1. (a) The superintendent is authorized, upon taking possession of any banking organization, to liquidate the affairs thereof and to do all acts and to make such […]

618-A – Repudiation of Contracts.

§ 618-a. Repudiation of contracts. 1. Except as otherwise provided in this section, when the superintendent has taken possession of the business and property in this state of a banking organization, unless the federal regulator or insurer is appointed as receiver or liquidator, the superintendent may assume or repudiate any contract, including an unexpired lease, […]