6-217. Emergency acquisition of in-state
financial institution


A. Notwithstanding any other provisions of law, an in-state financial institution
or out-of-state financial institution may acquire an in-state financial institution if
the superintendent determines that both of the following exist:


1. The in-state financial institution proposed to be acquired is in danger of being
placed in receivership by the superintendent or the relevant federal agency.


2. The acquisition is necessary to protect the financial interests of the in-state
financial institution's depositors and creditors.


B. The superintendent shall make his final determination under this section in
writing.