17-5633.   Same; commissioner may reorganize association; powers ofreceiver.At any time prior to the completion of the liquidation of anassociation, the commissioner may, by written order, redeliver theproperty and assets of an association, or by such written order mayreorganize such association and upon the completion of suchreorganization redeliver its property and assets to the association. Inthe event the commissioner determines to reorganize an association priorto liquidation of such association, the receiver appointed by the commissionershall have all the powers specified in this act which inure to the boardof directors in adopting a plan of reorganization and presenting the planto the members of the association at an annual meeting, or a special meetingcalled for the purpose of acting upon such plan.

      History:   L. 1943, ch. 133, § 186; L. 1978, ch. 84, § 2; March 16.