§ 32.24.090. Federal deposit insurance corporation as receiver or liquidator -- Appointment -- Powers and duties
The federal deposit insurance corporation is hereby authorized and empowered to be and act without bond as receiver or liquidator of any mutual savings bank the deposits in which are to any extent insured by that corporation and which shall have been closed on account of inability to meet the demands of its depositors. In the event of such closing, the director may appoint the federal deposit insurance corporation as receiver or liquidator of such mutual savings bank. If the corporation accepts such appointment, it shall have and possess all the powers and privileges provided by the laws of this state with respect to a liquidator of a mutual savings bank, its depositors and other creditors, and be subject to all the duties of such liquidator, except insofar as such powers, privileges, or duties are in conflict with the provisions of the federal deposit insurance act, as now or hereafter amended.
[1994 c 92 § 347; 1973 1st ex.s. c 54 § 3.]
Sections: Previous 32.24.010 32.24.020 32.24.030 32.24.040 32.24.050 32.24.060 32.24.070 32.24.080 32.24.090 32.24.100 NextLast modified: April 7, 2009