TITLE XXXV BANKS AND BANKING; LOAN ASSOCIATIONS; CREDIT UNIONS
CHAPTER 395 LIQUIDATION UNDER SUPERVISION OF THE BANK COMMISSIONER
Section 395:5
395:5 Commissioner's Duties. –
Upon taking possession of the property and business of any institution to which this chapter applies, the commissioner shall have authority to collect money due the institution and to do such other acts as are necessary to conserve its assets and business. He shall collect all debts due and claims belonging to it, and, upon the order of the superior court, may sell or compound all bad or doubtful debts; and on like order may sell all or any part of the real and personal property of the institution on such terms as the court shall direct.