Idaho § 26-1012 CLOSED BANK — FEDERAL DEPOSIT INSURANCE CORPORATION FURNISHING FUNDS FOR PAYMENT OF INSURED DEPOSIT LIABILITIES — SUBROGATION

Idaho Statutes

§ 26-1012 — CLOSED BANK — FEDERAL DEPOSIT INSURANCE CORPORATION FURNISHING FUNDS FOR PAYMENT OF INSURED DEPOSIT LIABILITIES — SUBROGATION

Idaho § 26-1012

Title 26BANKS AND BANKING

Ch. 10CLOSING AND LIQUIDATION OF BANKS

This text of Idaho § 26-1012 (CLOSED BANK — FEDERAL DEPOSIT INSURANCE CORPORATION FURNISHING FUNDS FOR PAYMENT OF INSURED DEPOSIT LIABILITIES — SUBROGATION) is published on Counsel Stack Legal Research, covering Idaho primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Idaho Code § 26-1012 (2026).

Text

Whenever any banking institution shall have been closed as aforesaid, and said Federal Deposit Insurance Corporation shall pay or make available for payment the insured deposit liabilities of such closed institution, the corporation, whether or not it shall have become receiver or liquidator of such closed banking institution, as herein provided, shall be subrogated to all rights against such closed banking institution, of the owners of such deposits, in the same manner and to the same extent as subrogation of the corporation is provided for in subsection (1) of section 12B of said Federal Reserve Act, as amended (being section 8 of said "Banking Act of 1933") in the case of the closing of a national bank, provided, that the rights of depositors and other creditors of such closed instituti

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Whenever any banking institution shall have been closed as aforesaid, and said Federal Deposit Insurance Corporation shall pay or make available for payment the insured deposit liabilities of such closed institution, the corporation, whether or not it shall have become receiver or liquidator of such closed banking institution, as herein provided, shall be subrogated to all rights against such closed banking institution, of the owners of such deposits, in the same manner and to the same extent as subrogation of the corporation is provided for in subsection (1) of section 12B of said Federal Reserve Act, as amended (being section 8 of said "Banking Act of 1933") in the case of the closing of a national bank, provided, that the rights of depositors and other creditors of such closed institution shall be determined in accordance with the applicable provisions of the laws of this state.