2005 Idaho Code - 26-1012 — CLOSED BANK -- FEDERAL DEPOSIT INSURANCE CORPORATION FURNISHING FUNDS FOR PAYMENT OF INSURED DEPOSIT LIABILITIES -- SUBROGATION

                                  TITLE  26
                              BANKS AND BANKING
                                  CHAPTER 10
                       CLOSING AND LIQUIDATION OF BANKS
    26-1012.  CLOSED BANK -- FEDERAL DEPOSIT INSURANCE CORPORATION FURNISHING
FUNDS FOR PAYMENT OF INSURED DEPOSIT LIABILITIES -- SUBROGATION. Whenever any
banking institution shall have been closed as aforesaid, and said Federal
Deposit Insurance Corporation shall pay or make available for payment the
insured deposit liabilities of such closed institution, the corporation,
whether or not it shall have become receiver or liquidator of such closed
banking institution, as herein provided, shall be subrogated to all rights
against such closed banking institution, of the owners of such deposits, in
the same manner and to the same extent as subrogation of the corporation is
provided for in subsection (1) of section 12B of said Federal Reserve Act, as
amended (being section 8 of said "Banking Act of 1933") in the case of the
closing of a national bank, provided, that the rights of depositors and other
creditors of such closed institution shall be determined in accordance with
the applicable provisions of the laws of this state.