§ 42-116-6. Additional general powers.
In addition to the powers enumerated in this chapter, except to the extent inconsistent
with any specific provision of this chapter, the corporation has power:
(1) To acquire or purchase all or any portion of the assets of one or more eligible institutions,
and to hold those assets in the manner that the corporation deems advisable and sell
or dispose of those assets acquired or held by it at prices without relation to cost
and in the manner as the corporation deems advisable, and to secure its own bonds
with these assets, all as provided in this chapter;
(2) In connection with the acquisition of all or any portion of the assets of an eligible
institution, to assume all, none, or any portion of the liabilities, including deposit
liabilities, of an eligible institution at the terms and in the manner that the corporation
deems advisable; provided, however, that the corporation is responsible and liable
only for those liabilities specifically assumed and bears no responsibility or liability
for any other debts or liabilities of the eligible institutions;
(3) To abandon any of the corporation's assets or property as the corporation deems advisable;
(4) To redeem any of the assets or properties of the corporation which are subject to
a pledge, mortgage, or security interest, upon the terms and conditions as the corporation
deems advisable;
(5) To establish and collect or cause to be collected the fees and charges that the corporation
determines to be reasonable;
(6) To make loans in furtherance of the purposes of the corporation, including, without
limitation, to renegotiate, rewrite, extend, and modify loans and other obligations;
(7) To make advance, progress, or other payments;
(8) To modify, renegotiate, or restructure any agreement relating to any assets acquired
or liabilities assumed by the corporation;
(9) To make and enter into indemnity and guaranty agreements;
(10) To assist in the acquisition of federal deposit insurance with respect to any deposit
liabilities (or any deposit obligations issued in full or partial satisfaction thereof)
whether from the National Credit Union Administration or the Federal Deposit Insurance
Corporation, and whether or not the acquisition of federal insurance is by merger,
purchase and assumption, consolidation, liquidation, conversion, or otherwise, which
assistance may include without limitation the corporation's pledge or payment of its
revenues to or for the benefit of an institution (which term for the purposes of this
subsection includes an eligible institution and any institution that facilitates the
acquisition of federal deposit insurance and any affiliate of the institution), sales
or other transfer of assets of the corporation to or purchases or other acquisitions
of assets from this institution, secured or unsecured loans to this institution, secured
or unsecured guaranties of or indemnities against losses or liabilities of this institution
and/or purchases or other acquisitions by the corporation of capital stock of this
institution; and
(11) To act as and be the conservator of an eligible institution in accordance with chapter 16 of title 19 or to act as a receiver in accordance with title 19, chapter 15 or to act as the
operating, managing, liquidating, or other agent for the conservator or the receiver
of an eligible institution.