Section 28-7-2.5-8 - Termination of conservatorship; appointment of receiver; liquidation(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.