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Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 361

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  361.365.  Director may appoint the Federal Deposit Insurance Corporation as liquidating agent — effect of. — The director may appoint the Federal Deposit Insurance Corporation as liquidating agent of any banking corporation insured thereby of which he has duly taken possession under any provision of this chapter, and the Federal Deposit Insurance Corporation as liquidating agent shall thereupon be vested with both legal and equitable title to all the assets, rights, claims and other real and personal property of the closed bank.  The Federal Deposit Insurance Corporation as liquidating agent shall have power to perform all acts of the director in the liquidation of the closed bank.

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(L. 1977 S.B. 420, A.L. 2005 H.B. 707)


---- end of effective   28 Aug 2005 ----

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