17-5618.   Same; operation of association; expenses.While the association is in charge of a special deputy commissioner,members of suchassociation shall continue to make payments to the association inaccordance with the terms and conditions of their contracts, and the specialdeputy commissioner, in the special deputycommissioner's discretion, may permit shareholders to repurchase theirshares from the association pursuant to the provisions of this act, orunder, and subject to, such rules and regulations as the commissioner mayprescribe. The special deputy commissioner shall have powerto accept payments upon such sharesand such payments when received by the special deputy commissionermay be segregated if thecommissioner shall so order in writing; if so ordered, such payments shallnot be subject to offset and shall not be used to liquidate anyindebtedness of such association existing at the time thespecial deputy commissioner wasappointed for it or any subsequent indebtedness incurred for the purpose ofliquidating the indebtedness of any such association existing at the timesuch special deputy commissioner was appointed. All expensesof the association includingsalary and expenses of the specialdeputy commissioner shall be paid bythe association.

      History:   L. 1943, ch. 133, § 171; L. 1965, ch. 150,§ 14; L. 1983, ch. 87, § 5; April 14.