SEC. 81-9-61. Exercise of discretion without approval of court.
By authority of order on the minutes signed by all five directors, the corporation may do and perform, without approval of court, the following, to-wit:
(a) Employ and fix the compensations of the liquidator, counsel and other employees;
(b) Lease premises to be occupied by the corporation as business quarters;
(c) Borrow money, execute promissory notes, and pledge or mortgage the assets of the corporation;
(d) Compromise or extend indebtedness due the bank being liquidated, and release and surrender securities and collaterals;
(e) Compromise claims against the bank;
(f) Sell any or all assets of the bank for cash or on other terms;
(g) Barter or exchange any assets of the bank for other property;
(h) Lease any property belonging to the bank;
(i) Pay dividends to creditors or stockholders of the bank.
SOURCES: Codes, 1942, Sec. 5271; Laws, 1934, ch. 146.