2005 Idaho Code - 26-1014 — FEDERAL DEPOSIT INSURANCE CORPORATION ACTING AS LIQUIDATOR -- POSSESSION AND CONTROL OF ASSETS AND BUSINESS OF BANK

                                  TITLE  26
                              BANKS AND BANKING
                                  CHAPTER 10
                       CLOSING AND LIQUIDATION OF BANKS
    26-1014.  FEDERAL DEPOSIT INSURANCE CORPORATION ACTING AS LIQUIDATOR --
POSSESSION AND CONTROL OF ASSETS AND BUSINESS OF BANK. Upon the acceptance of
the appointment of receiver or liquidator aforesaid by said corporation, and
during its continuance as such receiver or liquidator, the possession and
control of all the assets, business and property of such banking institution
of every kind and nature shall pass to and vest in said corporation and
without the execution of any instruments of conveyance, assignment, transfer
or endorsement, with the same force and effect and to the same extent as in
the director of the department of finance under like circumstances.