Chapter 2 - Possession of Depository Institution by Commissioner

Chapter 2 - Possession of Depository Institution by Commissioner

Section 1 - Supervisory actions by commissioner -- Grounds -- Mergers or acquisitions authorized by commissioner -- Possession of business and property taken by commissioner.
Section 2 - Jurisdiction of district court -- Supervision of actions of commissioner in possession -- Authority of commissioner and court.
Section 3 - Action for injunction against commissioner in possession -- Procedure -- Appeal.
Section 4 - Consent required for institution to resume business.
Section 5 - Appointment of receiver or assignment for creditors -- Notice required -- Commissioner taking possession.
Section 6 - Possession by commissioner -- Notice -- Presentation, allowance, and disallowance of claims -- Objections to claims.
Section 7 - Stay of proceedings against institution -- Relief.
Section 8 - Special deputies or agents -- Appointment -- Bond.
Section 9 - Conservatorship, receivership, or liquidation of institution -- Appointment of receiver -- Review of actions.
Section 10 - Inventory of assets -- Listings of claims -- Report of proceedings -- Filing -- Inspection.
Section 11 - Special counsel -- Employment by attorney general.
Section 12 - Powers of commissioner in possession -- Sale of assets -- Postpossession financing -- New deposit instruments -- Executory contracts -- Transfer of property -- Avoidance of transfers -- Avoidable preferences -- Setoff.
Section 13 - Collections in liquidation -- Deposit -- Preference.
Section 14 - Expenses during possession.
Section 15 - Priority of obligations, expenses, and claims -- Distribution of balance of assets.
Section 16 - Interim ratable dividends.
Section 17 - Disposition of records after liquidation.
Section 18 - Plan for reorganization or liquidation of institution -- Hearing -- Procedure -- Effect -- Appeals.
Section 19 - Suspension of payments by institution -- Order of commissioner -- Approval of governor -- Period effective -- Exempt payments -- Operation during suspension -- Modification of orders -- Adoption of rules and regulations.
Section 21 - Applicability of Utah Procurement Code.
Section 22 - Termination of authority to transact business.
Section 23 - Limitation of action -- Tolling of period.

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