Page:United States Statutes at Large Volume 103 Part 1.djvu/254

 103 STAT. 226 PUBLIC LAW 101-73—AUG. 9, 1989 "(i) all rights, titles, powers, and privileges of the insured depository institution, and of any stockholder, member, accountholder, depositor, officer, or director of such institution with respect to the institution and the assets of the institution; and "(ii) title to the books, records, and assets of any ^ ' previous conservator or other legal custodian of such institution. -: "(B) OPERATE THE INSTITUTION. —The Corporation may, as conservator or receiver— "(i) take over the assets of and operate the insured depository institution with all the powers of the mem- ,''"'-' bers or shareholders, the directors, and the officers of the institution and conduct all business of the institu- tion; »«•; "(ii) collect all obligations and money due the institution; "(iii) perform all functions of the institution in the -I ^.. name of the institution which is consistent with the appointment as conservator or receiver; and "(iv) preserve and conserve the assets and property of such institution. " (C) FUNCTIONS OF INSTITUTION'S OFFICERS, DIRECTORS, AND SHAREHOLDERS.— The Corporation may, by regulation or order, provide for the exercise of any function by any member or stockholder, director, or officer of any insured depository institution for which the Corporation has been appointed conservator or receiver. (D) POWERS AS CONSERVATOR.— The Corporation may, as conservator, take such action as may be— "(i) necessary to put the insured depository institu- tion in a sound and solvent condition; and "(ii) appropriate to carry on the business of the ^ '«i institution and preserve and conserve the assets and property of the institution. "(E) ADDITIONAL POWERS AS RECEIVER. —The Corporation may, as receiver, place the insured depository institution in >' liquidation and proceed to realize upon the assets of the institution, having due regard to the conditions of credit in the locality. "(F) ORGANIZATION OF NEW INSTITUTIONS. — The Corpora- tion may, as receiver— "(i) with respect to savings associations and by ap- plication to the Director of the Office of Thrift Super- •'!' vision, organize a new Federal savings association to take over such assets or such liabilities as the Corpora- tion may determine to be appropriate; and "(ii) with respect to any insured bank, organize a new national bank under subsection (m) or a bridge bank under subsection (n). " (G) MERGER; TRANSFER OF ASSETS AND LIABILITIES.^ "(i) IN GENERAL.— The Corporation may, as conserva- tor or receiver— "(I) merge the insured depository institution with another insured depository institution; or. . "(II) subject to clause (ii), transfer any asset or liability of the institution in default (including

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