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(1)__May not be subject to any limitation as to payment | | or withdrawal; |
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| | | (3)__May not be used to liquidate any indebtedness of | | the financial institution existing at the time that the | | conservator was appointed or any subsequent | | indebtedness incurred for the purpose of liquidating | | the indebtedness of the financial institution existing | | at the time the conservator was appointed; and |
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| | | (4)__Must be kept in cash or invested in direct | | obligations of the United States or deposited with | | another financial institution. |
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| | | 7.__Replacement conservator.__The superintendent may, without | | notice or hearing, replace a conservator__with another | | conservator. |
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| | | 8.__Termination of conservatorship.__The superintendent by | | order may terminate the conservatorship according to this | | subsection. |
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| | | A.__The superintendent may terminate the conservatorship at | | the superintendent's discretion. |
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| | | B.__Any interested party may petition the superintendent for | | termination of the conservatorship 6 months following | | appointment of the conservator. |
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| | | C. Upon termination of the conservatorship, the powers and | | duties of the conservator appointed pursuant to subsection 1 | | cease. |
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| | | D.__Upon termination of the conservatorship: |
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| | | (1)__The financial institution is returned to its | | governing body and operates as if the conservator had | | not been appointed; or |
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| | | (2)__A receiver is appointed as provided in section | | 365. |
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| | | A certified copy of any order discharging the conservator and | | returning the financial institution to its governing body is | | sufficient evidence of termination of conservatorship. |
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| | | 9.__Immunity from civil liability.__A person serving as a | | conservator is immune from any civil liability for acts performed |
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