Legislation
SECTION 638
Manner and time within which taking possession may be tested
Banking (BNK) CHAPTER 2, ARTICLE 13-A
§ 638. Manner and time within which taking possession may be tested.
At any time within ten days after the superintendent has taken
possession of the business and property of any licensee, such licensee
may apply to the supreme court in the judicial district in which its
principal office is located, for an order requiring the superintendent
to show cause why he should not be enjoined from continuing such
possession. The court may, upon good cause shown, direct the
superintendent to refrain from further proceedings and to surrender such
possession.
At any time within ten days after the superintendent has taken
possession of the business and property of any licensee, such licensee
may apply to the supreme court in the judicial district in which its
principal office is located, for an order requiring the superintendent
to show cause why he should not be enjoined from continuing such
possession. The court may, upon good cause shown, direct the
superintendent to refrain from further proceedings and to surrender such
possession.