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23-49-113. Subrogation of federal deposit insurance agency to rights of depositors.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-49-113. Subrogation of federal deposit insurance agency to rights of depositors.
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.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-49-113
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:23-49-113
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 14c2e45de15de811b62e0d60519bc26e3e0f5f549bcb55f1603bd87bdb552f92
Source location: content.xml paragraph 24873
Stored source content
23-49-113. Subrogation of federal deposit insurance agency to rights of depositors.
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.
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