(a) The department may:(1) terminate a conservatorship ordered under this chapter; and(2) permit the credit union subject to the conservatorship to resume the transaction of the credit union's business, subject to any terms, conditions, restrictions, and limitations that the department may prescribe;if the department is satisfied that a termination of the conservatorship may be done safely and is in the public interest.(b) Subject to subsection (c), the department may:(1) terminate a conservatorship ordered under this chapter; and(2) apply for the appointment of a receiver for the credit union under IC 28-1-3.1;if the department determines that the appointment of a receiver for the credit union is in the public interest.(c) If the department determines that the liquidation of a credit union placed in conservatorship under this chapter is in the public interest, the department shall:(1) terminate the conservatorship ordered under this chapter; and(2) apply for the appointment of a receiver for the credit union under IC 28-1-3.1.As added by P.L.10-2006, SEC.37 and P.L.57-2006, SEC.37.
Indiana Legal Code