KRS 286.3-320: Federal Deposit Insurance Corporation to be subrogated to rights

against closed banks.

Whenever any banking institution which is a member of, or whose deposits are insured

by, the Federal Deposit Insurance Corporation, has been closed and the Federa l Deposit

Insurance Corporation pays or makes available for payment the insured deposit liabilities

of the closed institution, the corporation shall become subrogated by operation of law to

all rights against the closed banking institution of each owner of a claim for deposit to the

extent of the payment.