Upon taking possession of the assets and business of any State trust company, the
Commissioner shall forthwith give notice, by mail or otherwise, of the action to all
banks, clearing corporations, brokers, trust institutions, or other persons or corporations
holding, or having in possession, any assets of the State trust company. No lien against any assets of the State trust company shall be enforced in any manner
other than as provided in this Article after the Commissioner has taken possession
of the State trust company.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?
Response sent, thank you
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.