§ 53-158. Naming of conservator not liquidation. - North Carolina Statutes

§53‑158.  Naming of conservator not liquidation.

No power conferred in thisArticle upon the Commissioner of Banks, when exercised, shall be deemed an actof possession for the purposes of liquidation; and whenever the Commissioner ofBanks shall, with reference to any bank for which a conservator is appointed,deem that liquidation is necessary, he shall exercise the powers for thepurposes of liquidation as provided in G.S. 53‑20 as amended. (1933,c. 155, s. 11.)