§ 42-116-6 - Additional general powers.
SECTION 42-116-6
§ 42-116-6 Additional general powers.– In addition to the powers enumerated in this chapter, except to the extentinconsistent with any specific provision of this chapter, the corporation haspower:
(1) To acquire or purchase all or any portion of the assetsof one or more eligible institutions, and to hold those assets in the mannerthat the corporation deems advisable and sell or dispose of those assetsacquired or held by it at prices without relation to cost and in the manner asthe corporation deems advisable, and to secure its own bonds with these assets,all as provided in this chapter;
(2) In connection with the acquisition of all or any portionof the assets of an eligible institution, to assume all, none, or any portionof the liabilities, including deposit liabilities, of an eligible institutionat the terms and in the manner that the corporation deems advisable; provided,however, that the corporation is responsible and liable only for thoseliabilities specifically assumed and bears no responsibility or liability forany other debts or liabilities of the eligible institutions;
(3) To abandon any of the corporation's assets or property asthe corporation deems advisable;
(4) To redeem any of the assets or properties of thecorporation which are subject to a pledge, mortgage, or security interest, uponthe terms and conditions as the corporation deems advisable;
(5) To establish and collect or cause to be collected thefees and charges that the corporation determines to be reasonable;
(6) To make loans in furtherance of the purposes of thecorporation, including, without limitation, to renegotiate, rewrite, extend,and modify loans and other obligations;
(7) To make advance, progress, or other payments;
(8) To modify, renegotiate, or restructure any agreementrelating to any assets acquired or liabilities assumed by the corporation;
(9) To make and enter into indemnity and guaranty agreements;
(10) To assist in the acquisition of federal depositinsurance with respect to any deposit liabilities (or any deposit obligationsissued in full or partial satisfaction thereof) whether from the NationalCredit Union Administration or the Federal Deposit Insurance Corporation, andwhether or not the acquisition of federal insurance is by merger, purchase andassumption, consolidation, liquidation, conversion, or otherwise, whichassistance may include without limitation the corporation's pledge or paymentof its revenues to or for the benefit of an institution (which term for thepurposes of this subsection includes an eligible institution and anyinstitution that facilitates the acquisition of federal deposit insurance andany affiliate of the institution), sales or other transfer of assets of thecorporation to or purchases or other acquisitions of assets from thisinstitution, secured or unsecured loans to this institution, secured orunsecured guaranties of or indemnities against losses or liabilities of thisinstitution and/or purchases or other acquisitions by the corporation ofcapital stock of this institution; and
(11) To act as and be the conservator of an eligibleinstitution in accordance with chapter 16 of title 19 or to act as a receiverin accordance with title 19, chapter 15 or to act as the operating, managing,liquidating, or other agent for the conservator or the receiver of an eligibleinstitution.