17-5559. Same; powers.
17-5559
17-5559. Same; powers.
The board of directors of the liquidating association shall also have
power to exchange or otherwise dispose of or to put in trust all, or
substantially all, or any part of the assets, upon such terms and
conditions and for such consideration, which may be money, stock, bonds,
shares, or accounts of any association or of any federal savings and loan
association, or other instruments for the payment of money, or other
property or other considerations, as the board of directors may deem
reasonable or expedient, and may distribute such considerations or the
proceeds thereof or trust receipts or certificates of beneficial interest
among the shareholders in proportion to their interest therein. In the
absence of fraud, any determination of value made by the board of directors
for any such purpose shall be conclusive.
History: L. 1943, ch. 133, § 137; July 1.