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CHAPTER 51A-15

SUSPENSION AND LIQUIDATION OF BANKS

51A-15-1      Voluntary liquidation--Requirements for approval.
51A-15-2      Ceasing to do business and winding up affairs on voluntary liquidation.
51A-15-3      Notice of voluntary liquidation--Manner of publication--Contents.
51A-15-4      Resignation of fiduciary positions and settlement of accounts on voluntary liquidation.
51A-15-5      Disposition of safe deposit on voluntary liquidation.
51A-15-6      Depositor's or creditor's rights not impaired by voluntary liquidation--Return of safe deposit rental.
51A-15-7      Distribution of assets after discharge of obligations on voluntary liquidation--Disposition of unclaimed distributions.
51A-15-8      Authority of director to take possession of bank in voluntary liquidation.
51A-15-9      Reports of progress in voluntary liquidation--Order and certificate of dissolution.
51A-15-10      Cancellation of voluntary liquidation.
51A-15-11      Director's authority to suspend activities and take possession of bank--Grounds.
51A-15-12      "Insolvent" defined.
51A-15-13      Receipt of deposits by insolvent bank unlawful--Felony.
51A-15-14      Notice of suspension and possession.
51A-15-15      Management and control powers of director in possession.
51A-15-16      Circuit court jurisdiction of proceedings--Venue.
51A-15-17      Change of venue.
51A-15-18      Director's appointment of Federal Deposit Insurance Corporation as receiver in liquidation proceedings.
51A-15-19      Powers of Federal Deposit Insurance Corporation as receiver in liquidation proceedings--Actions to recover money damages.
51A-15-20      Postponement of limitation periods on director's taking actions.
51A-15-21      Director's authority to take action in emergency without majority consent of commission.
51A-15-22      Applications to enjoin director from suspending activities and taking possession of bank.
51A-15-23      Proceedings exempt from open meetings and administrative procedure laws.
51A-15-24      Reorganization of bank by director--Distribution and effect of reorganization plan.
51A-15-25      Execution of lien on assets of bank in director's or receiver's possession prohibited--Powers of director.
51A-15-26      Borrowing money by director in possession.
51A-15-27      Expenses of director paid from assets.
51A-15-28      Requirements for adoption of reorganization plan.
51A-15-29      Modification of reorganization plan or liquidation of bank--Grounds and notice requirements.
51A-15-30      Limitations on powers of director or receiver in liquidating bank.
51A-15-31      Executory contracts of bank terminated after commencement of liquidation.
51A-15-32      Fiduciary positions of bank terminated after commencement of liquidation.
51A-15-33      Subrogation rights of Federal Deposit Insurance Corporation in liquidation of bank.
51A-15-34      Notice of liquidation by director or receiver.
51A-15-35      Disposition of safe deposit boxes in liquidation by director or receiver.
51A-15-36      Settlement of claims by director or receiver in liquidation proceedings.
51A-15-37      Objections to schedule of determinations in settlement of claims.
51A-15-38      Partial distributions to claim holders authorized--Final distribution.


51A-15-39      Priority of claims in liquidation proceedings.
51A-15-40      Payment of claims not filed within time prescribed.
51A-15-41      Prorata payment of claims authorized.
51A-15-42      Distribution of assets remaining after liquidation.
51A-15-43      Disposition of unclaimed funds after liquidation.
51A-15-44      Accounting by director or receivers after liquidation--Cancellation of charter--Order and certificate of dissolution.
51A-15-45      Instruments affecting real estate executed on behalf of insolvent banks validated.


Back to Title 51A