Section 58-2-7 - [Federal corporation as receiver or liquidator; possession of and title to assets

Upon the acceptance of the appointment of receiver or liquidator aforesaid by said corporation, the possession of and title to all the assets, business and property of such banking institution of every kind and nature shall pass to and vest in said corporation and without the execution of any instruments of conveyance, assignment, transfer or endorsement. History: Laws 1935, ch. 16, § 7; 1941 Comp., § 50-1107; 1953 Comp., § 48-11-7. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks §§ 763 to 769. 9 C.J.S. Banks and Banking § 651.