2012 Idaho Statutes
Title 26 - BANKS AND BANKING
Chapter 21 - IDAHO CREDIT UNION ACT
Section 26-2140A - CONSERVATORSHIP.
(b) Not later than thirty (30) calendar days after the date on which the director takes possession and control of the business and assets of a credit union, such credit union may apply to the district court for the judicial district in which the credit union is located for an order requiring the director to show cause why he should not be enjoined from continuing such possession and control. Except as provided in this subsection, no court may take any action, except at the request of the director, to restrain or affect the exercise of powers or functions of the director as conservator.
(c) The director may maintain possession and control of the business and assets of such credit union and may operate such credit union until such time as:
(d) The director may appoint such agents as he considers necessary in order to carry out his duties as conservator.
(e) All expenses of the credit union during the period of the conservatorship shall be paid by the credit union.
(f) The conservator shall have all the powers of the members, the directors, the officers and the committees of the credit union and shall be authorized to operate the credit union in its own name or to conserve its assets in the manner and to the extent authorized by the director.
(g) The authority granted in this section is in addition to all other authority granted to the director under this chapter.
History:
[26-2140A, added 1991, ch. 236, sec. 6, p. 571.]
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