361.365. Director may appoint the Federal Deposit Insurance Corporation as liquidating agent--effect of. - Missouri Statutes

Director may appoint the Federal Deposit Insurance Corporation asliquidating agent--effect of.

361.365. The director may appoint the Federal Deposit InsuranceCorporation as liquidating agent of any banking corporation insured therebyof which he has duly taken possession under any provision of this chapter,and the Federal Deposit Insurance Corporation as liquidating agent shallthereupon be vested with both legal and equitable title to all the assets,rights, claims and other real and personal property of the closed bank.The Federal Deposit Insurance Corporation as liquidating agent shall havepower to perform all acts of the director in the liquidation of the closedbank.

(L. 1977 S.B. 420, A.L. 2005 H.B. 707)