Federal Deposit Insurance Corporation may act as receiver orliquidator without bond.
369.354. 1. The Federal Deposit Insurance Corporation orany successor thereto may act without bond as sole or jointreceiver or liquidator of any insured association which has beentaken over pursuant to the provisions of sections 369.010 to369.369.
2. The director of the division of finance in the event ofthe taking over of any insured association may tender to theFederal Deposit Insurance Corporation or any successor theretothe appointment as sole receiver or liquidator thereof or ascoreceiver or coliquidator jointly with the director.
3. If the Federal Deposit Insurance Corporation or anysuccessor thereto accepts the appointment mentioned in subsection2, it shall equally have and possess all of the powers andprivileges provided by the laws of this state with respect to thedirector upon the director's taking possession of an associationand shall be subject to all the duties of the director. Thecorporation may make loans on the security of or may bid forpurchase at public or private sale or at any custodian's,receiver's or liquidator's sale, or may liquidate or sell anypart of the assets of the association of which it is the sole orjoint receiver or liquidator. If the corporation purchases anysuch assets, it shall bid and pay a fair and reasonable price.
4. Whenever the Federal Deposit Insurance Corporation orany successor thereto pays or makes provision for payment of theliabilities of any insured association, it is subrogated, uponthe surrender and transfer to it of any account insured by it, toall rights of the holder with respect to such account. Thesurrender and transfer of the account does not affect any rightwhich the transferor thereof may have in any portion of theaccount which is uninsured or any right to participate in thedistribution of the net proceeds remaining from the distributionof the assets of the insured association. The rights of theinvestors in and creditors of the insured association shall bedetermined in accordance with the laws of this state.
5. If such corporation is appointed sole receiver, thedirector, upon the director's application, shall be made a partyto the proceedings and be heard on any material matter.
6. No compensation shall be allowed such corporation or itsofficers, agents, counsel or employees in connection with suchreceivership.
Federal Deposit Insurance Corporation may act as receiver orliquidator without bond.
369.354. 1. The Federal Deposit Insurance Corporation orany successor thereto may act without bond as sole or jointreceiver or liquidator of any insured association which has beentaken over pursuant to the provisions of sections 369.010 to369.369.
2. The director of the division of finance in the event ofthe taking over of any insured association may tender to theFederal Deposit Insurance Corporation or any successor theretothe appointment as sole receiver or liquidator thereof or ascoreceiver or coliquidator jointly with the director.
3. If the Federal Deposit Insurance Corporation or anysuccessor thereto accepts the appointment mentioned in subsection2, it shall equally have and possess all of the powers andprivileges provided by the laws of this state with respect to thedirector upon the director's taking possession of an associationand shall be subject to all the duties of the director. Thecorporation may make loans on the security of or may bid forpurchase at public or private sale or at any custodian's,receiver's or liquidator's sale, or may liquidate or sell anypart of the assets of the association of which it is the sole orjoint receiver or liquidator. If the corporation purchases anysuch assets, it shall bid and pay a fair and reasonable price.
4. Whenever the Federal Deposit Insurance Corporation orany successor thereto pays or makes provision for payment of theliabilities of any insured association, it is subrogated, uponthe surrender and transfer to it of any account insured by it, toall rights of the holder with respect to such account. Thesurrender and transfer of the account does not affect any rightwhich the transferor thereof may have in any portion of theaccount which is uninsured or any right to participate in thedistribution of the net proceeds remaining from the distributionof the assets of the insured association. The rights of theinvestors in and creditors of the insured association shall bedetermined in accordance with the laws of this state.
5. If such corporation is appointed sole receiver, thedirector, upon the director's application, shall be made a partyto the proceedings and be heard on any material matter.
6. No compensation shall be allowed such corporation or itsofficers, agents, counsel or employees in connection with suchreceivership.
Federal Deposit Insurance Corporation may act as receiver orliquidator without bond.
369.354. 1. The Federal Deposit Insurance Corporation orany successor thereto may act without bond as sole or jointreceiver or liquidator of any insured association which has beentaken over pursuant to the provisions of sections 369.010 to369.369.
2. The director of the division of finance in the event ofthe taking over of any insured association may tender to theFederal Deposit Insurance Corporation or any successor theretothe appointment as sole receiver or liquidator thereof or ascoreceiver or coliquidator jointly with the director.
3. If the Federal Deposit Insurance Corporation or anysuccessor thereto accepts the appointment mentioned in subsection2, it shall equally have and possess all of the powers andprivileges provided by the laws of this state with respect to thedirector upon the director's taking possession of an associationand shall be subject to all the duties of the director. Thecorporation may make loans on the security of or may bid forpurchase at public or private sale or at any custodian's,receiver's or liquidator's sale, or may liquidate or sell anypart of the assets of the association of which it is the sole orjoint receiver or liquidator. If the corporation purchases anysuch assets, it shall bid and pay a fair and reasonable price.
4. Whenever the Federal Deposit Insurance Corporation orany successor thereto pays or makes provision for payment of theliabilities of any insured association, it is subrogated, uponthe surrender and transfer to it of any account insured by it, toall rights of the holder with respect to such account. Thesurrender and transfer of the account does not affect any rightwhich the transferor thereof may have in any portion of theaccount which is uninsured or any right to participate in thedistribution of the net proceeds remaining from the distributionof the assets of the insured association. The rights of theinvestors in and creditors of the insured association shall bedetermined in accordance with the laws of this state.
5. If such corporation is appointed sole receiver, thedirector, upon the director's application, shall be made a partyto the proceedings and be heard on any material matter.
6. No compensation shall be allowed such corporation or itsofficers, agents, counsel or employees in connection with suchreceivership.
