1-2(a) exist with respect to the credit union; or(2) the appointment of a conservator is necessary to conserve the assets of the credit union for the benefit of the members, depositors, and other creditors of the credit union.(b) A conservator appointed under this section shall give any bond or security that the department considers appropriate.(c) The department may appoint any of the following as a conservator under this section:(1) A private insurance company authorized to insure deposits or share accounts in Indiana.(2) The National Credit Union Administration or its successor.(3) Any competent and disinterested person.As added by P.L.10-2006, SEC.37 and P.L.57-2006, SEC.37.
Indiana Legal Code