9-1907. Powers of federal deposit insurance corporation or its successor. - Kansas Statutes

9-1907

Chapter 9.--BANKS AND BANKING; TRUST COMPANIES Article 19.--BANKING CODE; DISSOLUTION; INSOLVENCY

      9-1907.   Powers of federal deposit insurance corporation or its successor. The federal deposit insurance corporation or its successor, hereby is authorized and empowered to be and act without bond as receiver or liquidator of any insolvent or critically undercapitalized bank, the deposits in which are to any extent insured by such corporation, and which bank shall have been closed. In the event of any such closing of any bank the commissioner may tender to the insurance corporation the appointment as receiver or liquidator of such bank, and if the insurance corporation accepts the appointment then such insurance corporation shall have and possess all the powers and privileges and shall assume all the duties and requirements provided by the laws of this state with respect to a state receiver or liquidator, respectively, of a bank, its depositors and other creditors, and shall be subject to the jurisdiction of the district courts and supreme court of Kansas.

      History:   L. 1947, ch. 102, § 115; L. 1989, ch. 48, § 50; L. 1993, ch. 7, § 7; March 18.