Source: https://code.dccouncil.us/dc/council/code/sections/26-1401.24.html
Timestamp: 2019-04-25 10:31:26+00:00

Document:
D.C. Law Library - § 26–1401.24. Conservator; rights, powers, and privileges.
↪ Subchapter V. Commissioner Possession, Receivership, Conservatorship, and Liquidation of Universal Banks.
↪ § 26–1401.24. Conservator; rights, powers, and privileges.
§ 26–1401.23. Conservator; appointment; bond and security; qualifications; expenses.
§ 26–1401.25. Deposits received while universal bank in conservatorship.
§ 26–1401.24. Conservator; rights, powers, and privileges.
(a) Subject to the supervision of the Commissioner, the conservator shall take possession of the books, records, and assets of the bank and shall take any action necessary to conserve the assets of the universal bank pending further disposition of the business of the universal bank as provided by law.
(8) Hold title to all the bank’s property, contracts, and rights of action.
(2) Exercise any other power and duty authorized by the Superior Court.
(d) Unless otherwise provided by law, a conservator, other than a conservator who is an employee of the Department and acting in his or her official capacity, shall post a bond in an amount to be determined by the Superior Court.
(e) The conservator shall, on a regular basis, report to the Commissioner regarding all matters involving the conservatorship.

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