7-19-2 - Supervisory acquisition or merger authorized or required by commissioner.
7-19-2. Supervisory acquisition or merger authorized or required bycommissioner.
Notwithstanding any provision of law to the contrary, the commissioner, or any receiveror liquidator appointed by the commissioner, may solicit offers from and authorize, require, orgive effect to, a supervisory acquisition of, or a supervisory merger with respect to a failing orfailed depository institution or failing or failed depository institution holding company by a Utahdepository institution, an out-of-state depository institution, a Utah depository institution holdingcompany, or an out-of-state depository institution holding company.
Amended by Chapter 49, 1995 General Session