Whenever a federal deposit insurance agency pays or makes available for payment the insured deposit liabilities of a closed institution, the federal deposit insurance agency, whether or not it acts as receiver, shall be subrogated by operation of law to all rights of depositors against the closed institution relating to claims for deposits so paid by the federal deposit insurance agency to the extent necessary to enable the federal deposit insurance agency, under federal law, to make insurance payments available to depositors of closed institutions.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Subtitle 2 - Financial Institutions And Securities
Chapter 49 - Dissolution and Liquidation
§ 23-49-102. Department taking possession — Procedure
§ 23-49-103. Injunction against commissioner
§ 23-49-104. When possession terminates
§ 23-49-105. Notice of possession
§ 23-49-106. Appointment of receiver — Restrictions on proceedings, liens, or credits
§ 23-49-107. Powers of receiver
§ 23-49-108. Sale of assets — Assumption of deposit liabilities by new institution
§ 23-49-110. Claims filed after 180-day claim period
§ 23-49-111. Payment of claims
§ 23-49-112. Rejection of contracts and leases
§ 23-49-113. Subrogation of federal deposit insurance agency to rights of depositors
§ 23-49-114. Appointment of successor to fiduciary and representative proceedings
§ 23-49-115. Notice concerning safekeeping and safe-deposit boxes
§ 23-49-117. Contents of articles of dissolution
§ 23-49-118. Execution and filing of articles with department — Certificate of dissolution
§ 23-49-119. Voluntary liquidation
§ 23-49-120. Voluntarily placing an institution in possession of commissioner