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Financial Institutions Act | |
Possession of Depository Institution by Commissioner | |
Section 22 | Termination of authority to transact business. |
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7-2-22. Termination of authority to transact business. If an institution or other person subject to the jurisdiction of the department is operated by a federal deposit insurance agency or its appointee pursuant to a federal receivership or conservatorship for a period of 180 days or more, the authority of that institution or person to transact business under this title shall terminate upon the expiration of the 180-day period.
Enacted by Chapter 229, 1987 General Session |
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