2005 Idaho Code - 26-1025 — BORROWING MONEY TO FACILITATE LIQUIDATION OR REOPENING OF BANK

                                  TITLE  26
                              BANKS AND BANKING
                                  CHAPTER 10
                       CLOSING AND LIQUIDATION OF BANKS
    26-1025.  BORROWING MONEY TO FACILITATE LIQUIDATION OR REOPENING OF BANK.
The director of the department of finance, when he deems it to be for the best
interest of the depositors of any closed bank, shall be and hereby is
authorized and empowered in his official capacity, without personal liability,
and under orders of the court, to borrow from any federal agency, or any
corporation or person, for the purpose of facilitating the liquidation of such
bank and making distribution to depositors, and/or for the purpose of
reorganizing or reopening such bank, and as security for the payment of any
money so borrowed, the director may pledge or otherwise hypothecate or
mortgage all or any part of the assets of such bank and enter into all such
contracts or agreements in connection therewith as he may deem prudent and
advisable.