After a hearing with three days' oral or written notice to a majority of the members of the board of directors, the director may, with the consent of a majority of the members of the commission, suspend all activities and take possession of the business and property of a bank if the director finds: (1) The bank's capital is impaired or the bank is otherwise in an unsound condition; (2) The bank's business is being conducted in an unlawful or unsound manner; (3) The bank is unable to continue normal operations; (4) The bank refuses to permit, obstructs, or impedes an examination as provided in § 51A-2-18 ; (5) The bank places its affairs and assets under the control of the director; (6) A parent corporation refuses to permit, obstructs, or impedes an examination as provided in § 51A-2-37 ; (7) The bank is insolvent; or (8) The bank's insurance has been terminated pursuant to an action initiated by the Federal Deposit Insurance Corporation under 12 U.S.C. § 1818(a), as of January 1, 2015.
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