TITLE 19
Financial institutions

CHAPTER 19-11
Conservatorship

SECTION 19-11-5


§ 19-11-5 Creditors' rights as in receivership.

During the time that any conservator remains in charge of the property and affairs of any financial institution or credit union in accordance with the provisions of this chapter, the rights of creditors and all other parties in respect to bringing and prosecuting suits and proceedings against the financial institution or credit union and the conservator, except as otherwise provided in this chapter, shall be the same as if the conservator was a receiver of the property and affairs of that financial institution or credit union duly appointed and qualified in and by appropriate judicial proceedings instituted for that purpose.

History of Section.
(P.L. 1995, ch. 82, § 49.)