17-5614.   Special deputy commissioner, appointment, when.If an association shall refuse or neglect to comply with such orderwithin the time specified therein, or if it shall appear to thecommissioner that any association is in an unsafe condition or isconducting its business in an unsafe manner, or if the commissionershall find that animpairment of capital exists to such an extent that it threatens loss tothe members, or if any association refuses to submit its books, papers andaccounts to the inspection of the commissioner or the commissioner'srepresentative, thecommissioner may appoint a special deputy savings and loan commissionerto take charge of the association andmanage its business until the commissioner shall permit the board ofdirectors to resume management of the business or shall reorganize theassociation, or until a receiver shall be appointed by the commissioner toliquidate its affairs. The commissioner shall fix the compensation of suchspecial deputy commissioner.

      History:   L. 1943, ch. 133, § 167; L. 1965, ch. 150,§ 10; L. 1983, ch. 87, § 1; April 14.