GroundRules
32-1-503: Bank insolvent when.
Where this section sits in the code
- TITLE 32. FINANCIAL INSTITUTIONS
- CHAPTER 1. BANKS AND TRUST COMPANIES
- Part 5. Dissolution, Closing, and Liquidation
A bank is insolvent within the meaning of this chapter when all of its capital, surplus, and undivided profits are absorbed in losses and the remaining assets are not sufficient to pay and discharge its contracts, debts, and engagements.
Collected 2026-09-14T04:51:51Z. Source file · JSON