§ 396:6 — Powers and Duties

The conservator shall have all the powers which could otherwise be exercised by the officers, trustees, and directors of such institution and whatever powers are necessary to carry out the provisions of this chapter, and he shall be subject to all the duties otherwise imposed upon them as extended or limited by this chapter, and by regulations promulgated by the commissioner under the provisions of RSA 396:1. The appointment of a conservator shall not affect any regulation hereunder in force at the time of his appointment nor the right of the commissioner to make further regulations hereunder. The compensation and expense of the conservator and his assistants and the other expense of the institution shall be paid from its assets upon order of the commissioner and shall be a lien thereon prior to any other lien. No officer, trustee, director, or stockholder shall be liable for any act of a conservator or in any respect for any result of conservatorship nor shall they be liable for any act of omission during the time that a conservator remains in possession of such institution.

Legislative History

1933, 114:1. RL 317:6.