Page:United States Statutes at Large Volume 103 Part 1.djvu/319

 PUBLIC LAW 101-73 —AUG. 9, 1989 103 STAT. 291 "(v) concealment of books, papers, records, or assets of the savings association or refusal to submit books, papers, records, or affairs of the association for inspec- tion to any examiner or to any lawful agent of the Director; "(vi) the association is not likely to be able to meet the demands of its depositors or pay its obligations in the normal course of business; "(viiXD the association has incurred or is likely to incur losses that will deplete all or substantially all of its capital, and (II) there is no reasonable prospect for the replenishment of the capital of the association without Federal assistance; or "(viii) there is a violation or violations of laws or regulations, or an unsafe or unsound practice or condi- tion which is likely to cause insolvency or substantial dissipation of assets or earnings, or is likely to weaken the condition of the association or otherwise seriously prejudice the interests of its depositors. "(B) ADDITIONAL GROUNDS FOR APPOINTMENT OF FEDERAL ASSOCIATIONS.— In addition to the foregoing provisions, the Director may, without any requirement of notice, hearing, or other action, appoint a conservator or receiver for a Federal savings association if^ "(i) the association, by resolution of its board of directors or of its members, consents to such appoint- ment, or "(ii) the association is removed from membership in any Federal home loan bank, or its status as an institu- tion the accounts of which are insured by the Corpora- tion is terminated. "(C) GROUNDS FOR APPOINTMENT FOR STATE ASSOCIA- TIONS. —Notwithstanding any other provision of law, the Director shall have power and jurisdiction to appoint a conservator or receiver for an insured State savings associa- tion, if the Director determines that any of the following grounds for the appointment of a conservator or receiver exists: "(i) insolvency in that the assets of the savings association are less than its obligations to its creditors and others, including its members; "(ii) substantial dissipation of assets or earnings due to any violation or violations of law or regulations, or to any unsafe or unsound practice or practices; '(iii) an unsafe or unsound condition to transact business, including having substantially insufficient capital or otherwise; the demands of its depositors or pay its obligations in the normal course of business; "(v)(1) the savings association has incurred or is likely to incur losses that will deplete all or substantially all of its capital, and (II) there is no reasonable prospect for the savings association's capital to be replenished without Federal assistance; or "(vi) there is a violation or violations of laws or regulations, or an unsafe or unsound practice or condi- ''
 * (iv) the association is not likely to be able to meet

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