Bank Conservation Act

Bank Conservation Act
A federal statute which provides for the appointment by the Comptroller of the Currency of a conservator of a national bank found by the comptroller to be in failing circumstances, not for liquidation of the bank but for conservation of assets, there being prospect that the bank later may be in position to reopen and resume its corporate functions. 12 USC §§ 201-211; Davis Trust Co. v Hardee, 66 App DC 168, 85 F2d 571, 107 ALR 1425.

Ballentine's law dictionary. . 1998.

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