26-1005. EFFECT OF POSTING NOTICE. The posting of such notice by the directors of any bank, or of a like notice signed by the director, shall be sufficient to place all assets and property of such bank, of whatever nature and wherever situate, in possession of the director, and shall operate as a bar to any attachment or any other legal proceedings against such bank or its assets, and no valid lien or claim can be acquired or created, or transfer or assignment made in any manner, binding or affecting any of the assets of such bank after the posting of such notice or after taking possession of any bank by the director.
History:
[26-1005, added 1979, ch. 41, sec. 2, p. 103.]
Structure Idaho Code
Chapter 10 - CLOSING AND LIQUIDATION OF BANKS
Section 26-1001 - GROUNDS FOR CLOSING BANK.
Section 26-1002 - PENALTY FOR CLOSING BANK WITH CRIMINAL INTENT.
Section 26-1003 - RECEIVING DEPOSITS WHEN INSOLVENT.
Section 26-1004 - BANK MAY BE PLACED IN DIRECTOR’S POSSESSION.
Section 26-1005 - EFFECT OF POSTING NOTICE.
Section 26-1006 - TAKING POSSESSION OF BANK — NOTICE.
Section 26-1007 - RESUMPTION AFTER CLOSING.
Section 26-1008 - POWERS OF DIRECTOR ON CLOSING BANK.
Section 26-1009 - RECOURSE OF AGGRIEVED BANK.
Section 26-1010 - DIRECTOR MAY APPOINT AGENTS.
Section 26-1011 - FEDERAL DEPOSIT INSURANCE CORPORATION — RIGHT TO ACT AS RECEIVER OR LIQUIDATOR.
Section 26-1015 - ENFORCEMENT OF INDIVIDUAL LIABILITY OF DIRECTORS OF CLOSED BANK.
Section 26-1016 - NOTICE TO CREDITORS OF INSOLVENT BANK.
Section 26-1017 - CLAIMS — ALLOWANCE AND REJECTION.
Section 26-1018 - PAYMENT OF CLAIMS.
Section 26-1019 - CLAIMS — ORDER OF PAYMENT — PRIORITIES.
Section 26-1021 - STATEMENT OF CONDITION.
Section 26-1022 - DEPOSIT OF FUNDS IN DIRECTOR’S HANDS.
Section 26-1023 - DISPOSITION OF UNCLAIMED FUNDS.
Section 26-1024 - DISPOSITION OF ASSETS REMAINING AFTER PAYMENT OF CLAIMS.
Section 26-1025 - BORROWING MONEY TO FACILITATE LIQUIDATION OR REOPENING OF BANK.