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Indiana Code Title 28. Financial Institutions § 28-14-7.5-8

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 8. (a) The department may:

(1) terminate a conservatorship ordered under this chapter;  and

(2) permit the corporate fiduciary subject to the conservatorship to resume the transaction of the corporate fiduciary's business, subject to any terms, conditions, restrictions, and limitations that the department may prescribe;

if the department is satisfied that a termination of the conservatorship may be done safely and is in the public interest.

(b) Subject to subsection (c), the department may:

(1) terminate a conservatorship ordered under this chapter;  and

(2) apply for the appointment of a receiver for the corporate fiduciary under IC 28-1-3.1;

if the department determines that the appointment of a receiver for the corporate fiduciary is in the public interest.

(c) If the department determines that the liquidation of a corporate fiduciary placed in conservatorship under this chapter is in the public interest, the department shall:

(1) terminate the conservatorship ordered under this chapter;  and

(2) apply for the appointment of a receiver for the corporate fiduciary under IC 28-1-3.1.

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Cite this article: FindLaw.com - Indiana Code Title 28. Financial Institutions § 28-14-7.5-8 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-28-financial-institutions/in-code-sect-28-14-7-5-8/

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