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23-49-108. Sale of assets — Assumption of deposit liabilities by new institution.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-49-108. Sale of assets — Assumption of deposit liabilities by new institution.
(a) The receiver may, with ex parte approval of the circuit court, sell all or any part of the institution's assets to one (1) or more other state or federally chartered depository institution or to a federal deposit insurance agency in its corporate capacity.
(b) The receiver may also borrow from a federal deposit insurance agency any amount necessary to facilitate the assumption of deposit liabilities by a newly chartered or existing state or federally chartered depository institution, assigning any part or all of the assets of the institution as security for the loan.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-49-108
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:23-49-108
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 166240b84a7f316efcd8429c98455d93aba561372d567a7750a3e604d149898a
Source location: content.xml paragraph 24821
Stored source content
23-49-108. Sale of assets — Assumption of deposit liabilities by new institution.
(a) The receiver may, with ex parte approval of the circuit court, sell all or any part of the institution's assets to one (1) or more other state or federally chartered depository institution or to a federal deposit insurance agency in its corporate capacity.
(b) The receiver may also borrow from a federal deposit insurance agency any amount necessary to facilitate the assumption of deposit liabilities by a newly chartered or existing state or federally chartered depository institution, assigning any part or all of the assets of the institution as security for the loan.
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