§ 13-4-601 — Appointment; duty of commissioner

(a) The state banking commissioner may appoint a
conservator for a bank in order to conserve the assets of the
bank for depositors and creditors. He may require a sufficient
bond and security of the conservator. The conservator shall
receive a fixed salary in an amount to be determined by the
state banking commissioner.
(b) The conservator shall take possession of all assets of
the bank and take action necessary to conserve the assets of the
bank. The conservator may employ help necessary to perform his
duties. The rights of all parties with respect to a bank in the
possession of a conservator shall be the same as if the state
banking commissioner had possession of the bank. All expenses of
conservatorship shall be paid out of the assets of the bank and
shall be a lien on the bank which is prior to any other liens.
(c) The state banking commissioner shall examine the
affairs of banks under conservatorship as necessary to keep him
informed of the financial condition of the bank.