If it appears to the commissioner that it is in the best interest of the depositors of an association, the general public, and the savings association industry within this state, the commissioner is hereby granted the authority to allow a supervisory merger of an association into another association in lieu of appointing a conservator or a receiver under the provisions of Section 81-12-181 or 81-12-183, provided the board of directors of each association has adopted a voluntary consent resolution authorizing a supervisory merger. The commissioner shall coordinate the supervisory merger with the appropriate federal regulatory authority.
Sources: Laws, 1983, ch. 431; reenacted, 1990 Ex Sess, ch. 52, § 95; Laws, 1993, ch. 441, § 96; reenacted and amended, 1994, ch. 622, § 128; reenacted without change, Laws, 1997, ch. 496, § 93; reenacted without change, Laws, 2001, ch. 488, § 95, eff from and after July 1, 2001.
If it appears to the commissioner that it is in the best interest of the depositors of an association, the general public, and the savings association industry within this state, the commissioner is hereby granted the authority to allow a supervisory merger of an association into another association in lieu of appointing a conservator or a receiver under the provisions of Section 81-12-181 or 81-12-183, provided the board of directors of each association has adopted a voluntary consent resolution authorizing a supervisory merger. The commissioner shall coordinate the supervisory merger with the appropriate federal regulatory authority.
Sources: Laws, 1983, ch. 431; reenacted, 1990 Ex Sess, ch. 52, § 95; Laws, 1993, ch. 441, § 96; reenacted and amended, 1994, ch. 622, § 128; reenacted without change, Laws, 1997, ch. 496, § 93; reenacted without change, Laws, 2001, ch. 488, § 95, eff from and after July 1, 2001.
If it appears to the commissioner that it is in the best interest of the depositors of an association, the general public, and the savings association industry within this state, the commissioner is hereby granted the authority to allow a supervisory merger of an association into another association in lieu of appointing a conservator or a receiver under the provisions of Section 81-12-181 or 81-12-183, provided the board of directors of each association has adopted a voluntary consent resolution authorizing a supervisory merger. The commissioner shall coordinate the supervisory merger with the appropriate federal regulatory authority.
Sources: Laws, 1983, ch. 431; reenacted, 1990 Ex Sess, ch. 52, § 95; Laws, 1993, ch. 441, § 96; reenacted and amended, 1994, ch. 622, § 128; reenacted without change, Laws, 1997, ch. 496, § 93; reenacted without change, Laws, 2001, ch. 488, § 95, eff from and after July 1, 2001.
