§ 19-12-10. Automatic stay.
(a) The appointment of a temporary or permanent receiver pursuant to the provisions of
this chapter, or the taking of possession of the financial institution or credit union
and its assets by the director, or the director's designee, whichever shall first
occur, shall operate as a stay until further order of the court, applicable to all
persons and entities, of:
(1) The commencement or continuation, including the issuance or employment of process,
of a judicial, administrative, or other action or proceeding against the financial
institution or credit union that was, or could have been, commenced before the commencement
of the receivership under this chapter, or to recover a claim against the financial
institution or credit union that arose before the commencement of the receivership
pursuant to this chapter;
(2) The enforcement, against the financial institution or credit union or against property
of the receivership estate, or a judgment obtained before the commencement of the
receivership under this chapter;
(3) Any act to obtain possession of property of, or from, the receivership estate or to
exercise control over property of the estate;
(4) Any act to create, perfect, or enforce any lien against property of the receivership
estate;
(5) Any act to create, perfect, or enforce against property of the financial institution
or credit union any lien to the extent that the lien secures a claim that arose before
the commencement of the receivership under this title;
(6) Any act to collect, assess, or recover a claim against the financial institution or
credit union that arose before the commencement of the receivership under this chapter;
and
(7) The setoff of any debt owing to the financial institution or credit union that arose
before the commencement of the receivership under this chapter against any claim against
the financial institution or credit union.
(b) Nothing in this section shall be construed to prevent the issuance, employment, or
enforcement of process in conjunction with any investigation by state or federal authorities.