32-1-511. Bank may be placed in department's possession.
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/mt/title-32/chapter-1/part-5/32-1-511·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
32-1-511 . Bank may be placed in department's possession. A bank may place its affairs and assets under the control and in the possession of the department by posting a notice on the front door of the bank indicating that it is in the possession of the department. The notice shall be signed by a majority of the directors in office of the bank. Immediately upon the posting of the notice by a bank, it shall notify the department of its action.