Montana Statutes
§ 32-2-1104 — Subrogation Of Corporation
Montana·Title 32 FINANCIAL INSTITUTIONS·Ch. 2 MUTUAL SAVINGS AND LOAN ASSOCIATIONS·Part 11 Federal Deposit Insurance Corporation
32-2-1104 . Subrogation of corporation. Whenever any savings institution has been closed as provided in 32-2-1103 and the federal deposit insurance corporation pays or makes available for payment the insured deposit liabilities of the closed savings institution, the federal deposit and insurance corporation, whether or not it has been appointed agent of the department in the liquidation of the closed savings institution, must be and become subrogated by operation of law to all rights against the closed savings institution of each owner of a claim for deposit to the extent necessary to enable the federal deposit insurance corporation, under federal law, to make insurance payments available to depositors of closed insured savings institutions.
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Legislative History
En. Sec. 120, Ch. 431, L. 2021.
Nearby Sections
15
§ 32-2-1001
Dissolution And Disincorporation§ 32-2-1002
Grounds For Closing Mutual Association§ 32-2-1003
When Mutual Association Insolvent§ 32-2-1004
Deposits In Insolvent Mutual Associations§ 32-2-1007
Corporate Existence -- Cessation§ 32-2-101
Repealed§ 32-2-1010
Resumption After Closing§ 32-2-1013
Department May Retain Mutual Association Employees -- Liquidating Agent's Salary And Expenses§ 32-2-1014
Compensation Of Agents And Attorneys