Tennessee Statutes
§ 45-2-803 — Subrogation rights of federal deposit insurance corporation on payment of insured deposits
Tennessee·Title 45
Whenever any state bank is closed and the federal deposit insurance corporation has paid or made available for payment the insured deposit liabilities of the closed institution, the corporation, regardless of whether it has become liquidating agent, shall be and become subrogated to all rights against the closed bank of the owners of the deposits in the same manner and to the same extent as subrogation of the corporation is provided for in subsection (1) of § 12B of the Federal Reserve Act, § 8 of the Banking Act of 1933, in the case of the closing of a national bank, and shall be generally subrogated to all rights of the depositors as provided by the laws of Tennessee; provided, that the rights of depositors and other creditors of the closed institution shall be determined in accordance w
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Tennessee § 45-2-803 (Subrogation rights of federal deposit insurance corporation on payment of insured deposits) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
In re the Liquidation of United American Bank in Knoxville
743 S.W.2d 911 (Tennessee Supreme Court, 1987)
Legislative History
Acts 1969, ch. 36, § 1 (3.322); T.C.A., § 45-503.
Nearby Sections
15
§ 45-1-101
Short title§ 45-1-103
General definitions§ 45-1-104
Department to execute laws§ 45-1-106
Salary of commissioner§ 45-1-107
Powers and duties of commissioner§ 45-1-109
Oaths of office§ 45-1-111
Limitation of personal liability§ 45-1-112
Official seal§ 45-1-113
Office facilities§ 45-1-116
Examiners - Employment and duties