32-2-1103. Appointment of corporation as agent in liquidation. If a savings institution whose deposits are in any extent insured by the federal deposit insurance corporation created by the Federal Deposit Insurance Act, 12 U.S.C. 1811 through 1831, is closed on account of the savings institution's inability to meet the demands of its creditors, the department may appoint the corporation agent, without bond, to assist the department or act for it in the liquidation of that savings institution.
History: En. Sec. 119, Ch. 431, L. 2021.
Structure Montana Code Annotated
Title 32. Financial Institutions
Chapter 2. Mutual Savings and Loan Associations
Part 11. Federal Deposit Insurance Corporation
32-2-1101. Definition of savings institution
32-2-1102. Savings institutions empowered to receive federal deposit insurance corporation aid
32-2-1103. Appointment of corporation as agent in liquidation
32-2-1104. Subrogation of corporation
32-2-1105. Examinations by corporation
32-2-1106. Closed savings institutions empowered to borrow from corporation