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This entry was published on 2014-09-22
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SECTION 628
Payment of dividends when deposits have been made available by Federal Deposit Insurance Corporation
Banking (BNK) CHAPTER 2, ARTICLE 13
§ 628. Payment of dividends when deposits have been made available by
Federal Deposit Insurance Corporation. When the superintendent shall
have taken possession of any banking organization for the purpose of
liquidation, and Federal Deposit Insurance Corporation shall have made
available to the depositors thereof the amounts of their respective
deposits insured by such corporation, he shall be authorized, without
requiring assignments from depositors, to pay to such corporation such
dividends on account of such insured deposits as such depositors would
be entitled to receive had their deposits not been made available to
them by such corporation.