§ 13-6-401 — When state banking commissioner to take charge; refusal to so permit

(a) If it appears to the state banking commissioner that
the affairs of any savings and loan association are in an
unsound condition or that it is conducting its business in an
unsafe or unlawful manner, the state banking commissioner may
take possession of all books, records and assets of the
association and hold them pending further proceedings.
(b) If the person in charge of the association refuses to
permit the state banking commissioner to take possession, the
state banking commissioner shall inform the attorney general who
shall take whatever action is necessary to place the state
banking commissioner in immediate possession of the property of
the association.