§412:2-502  Solicitation of purchasers.  If
the court sustains the commissioner's determination that the financial
institution is a failing financial institution, or if the institution has not
contested the determination and the time for petitioning the court has passed,
the commissioner may solicit applications to merge with the failing financial
institution or with its holding company, or to purchase all or part of the
assets or assume all or part of the liabilities of the failing financial
institution, or to purchase the capital stock of the failing financial
institution or its holding company.  The solicitation may be by private letter,
by personal contact, or by publication, as in the commissioner's discretion may
be appropriate in order to obtain as many fair offers as possible with the
least danger to the safety of the failing financial institution, its depositors
and creditors, and the general public.  The commissioner may disclose
information concerning the failing financial institution as shall be necessary
for the prospective applicants to formulate a proposal to purchase; provided
that the recipients of the information shall be required to keep the
information confidential. [L 1993, c 350, pt of §1; am L 1994, c 107, §4]