Indiana Code
Chapter 3.1. Liquidation of Financial Institutions
28-1-3.1-12. Federal Deposit Insurance; Payments of Deposit Liabilities; Subrogation

Sec. 12. Whenever a federal deposit insurance agency pays or makes available for payment the insured deposit liabilities of a closed financial institution, the federal deposit insurance agency, whether or not it acts as receiver, shall be subrogated by operation of law to all rights against the closed financial institutions of each owner of a claim for deposit 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 financial institutions.
As added by P.L.141-1984, SEC.2.

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Structure Indiana Code

Indiana Code

Title 28. Financial Institutions

Article 1. Department of Financial Institutions

Chapter 3.1. Liquidation of Financial Institutions

28-1-3.1-1. Definitions

28-1-3.1-2. Authority of Department to Take Possession of Business and Property; Conditions; Duties of Department

28-1-3.1-3. Holding Business and Property Until Liquidation of Affairs

28-1-3.1-4. Notice; Entry of Cause; Hearing; Record; Rights and Liabilities of Persons Interested; Federal Deposit Insurance Corporation as Receiver

28-1-3.1-5. Receiver; Appointment; Vesting of Title to All Assets and Right to Terminate Affairs of Institution; Liens or Claims Against Property