§ 19-11-5 - Creditors' rights as in receivership.
SECTION 19-11-5
§ 19-11-5 Creditors' rights as inreceivership. – During the time that any conservator remains in charge of the property andaffairs of any financial institution or credit union in accordance with theprovisions of this chapter, the rights of creditors and all other parties inrespect to bringing and prosecuting suits and proceedings against the financialinstitution or credit union and the conservator, except as otherwise providedin this chapter, shall be the same as if the conservator was a receiver of theproperty and affairs of that financial institution or credit union dulyappointed and qualified in and by appropriate judicial proceedings institutedfor that purpose.