Sec. 96.252. CLOSING OF SAVINGS BANK BY COMMISSIONER'S ORDER. The commissioner or the commissioner's representative may close a savings bank if the commissioner determines after an examination that: (1) the interests of the deposit account holders and creditors of the savings bank are jeopardized because of: (A) the savings bank's insolvency or imminent insolvency; or (B) a substantial dissipation of the savings bank's assets or earnings because of a violation of a law or an unsafe or unsound practice; and (2) it is in the best interests of the deposit account holders and creditors to close the savings bank and liquidate the savings bank's assets.
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