2005 Idaho Code - 26-1008 — POWERS OF DIRECTOR ON CLOSING BANK

                                  TITLE  26
                              BANKS AND BANKING
                                  CHAPTER 10
                       CLOSING AND LIQUIDATION OF BANKS
    26-1008.  POWERS OF DIRECTOR ON CLOSING BANK. Upon taking the assets and
business of any bank into his possession, the director is authorized to
collect all moneys due to such bank, assess the stock of such bank, and to do
such other acts as are necessary to conserve its assets and business, and he
shall proceed to liquidate the affairs thereof. He shall have general and
inclusive power and authority, except as otherwise limited by the terms of
this act, to do any and all acts, to take any and all steps necessary, or, in
his discretion, desirable for the protection of the property and assets of
such bank and the speedy and economical liquidation of the assets and affairs
of such bank and the payment of its creditors, or for the reopening and
resumption of business by said bank, where that is in his discretion
practicable or desirable.
    The director may institute, in his own name as director, or in the name of
the bank, such suits and actions and other legal proceedings as he deems
expedient for such purposes, and by making application to the district court
of the county in which such bank is located, or to the judge thereof, in
chambers, may procure an order to sell, compromise or compound any bad or
doubtful debt or claim, and to sell and dispose of any or all the assets,
which sale may be made to stockholders, officers, directors, or others
interested in such bank, on consent of the court. Any such application or
petition by the director may be had at any time, either in term or vacation in
court, or in chambers, as the court may order.