12 U.S.C. § 196
Expenses
All expenses of any preliminary or other examinations into the condition of any association shall be paid by such association. All expenses of any receivership shall be paid out of the assets of such association before distribution of the proceeds thereof.
Notes of Decisions
Cited in 4
cases, 1933–1946 · leading case: Land Title Bank & Trust Co. v. Ward
Land Title Bank & Trust Co. v. Ward (1937)
“In this connection it may be pointed out that, even if the Bank did become insolvent on June 25, 1934, the plaintiff upon amending its statement of claim would be entitled to claim the taxes paid for the years 1935 and 1936 as an administration expense of the receivership.”
Hardee v. American Security & Trust Co. (1935)
“It is universally recognized that when real estate is sold by a receiver through court proceedings the unpaid taxes accrued upon it are liens to be paid from the proceeds of the sale next after the payment of the court costs. In the present case such taxes, when properly…”
Wilson v. Awalt (1933)
“1916, § 9825 [12 USCA § 196]). But a receiver is appointed only when the condition of the bank or its practices makes intervention by the government necessary for the protection of noteholders or other creditors.”
Ward v. United States (1946)
“, § 5238 [12 U.S. C.A. § 196], that all expenses of any such receivership should be paid out of the assets of the bank before distribution.”
Annotations are extracted automatically from the opinions in the
Syfert caselaw corpus and ranked by authority, recency, and
treatment. Dots show Syfertize treatment of the citing case itself.