HARRY HUGHES, Governor                                        173

OR ACCOUNTS MADE AVAILABLE TO, A DEPOSITOR UNDER SUBSECTION (B)
(C) OF THIS SECTION.

(B) THE DETERMINATION OF INSURABLE LOSS UNDER SUBSECTION
(A)(1) OF THIS SECTION SHALL OCCUR NO LATER THAN 4 YEARS FROM THE
DATE A MEMBER ASSOCIATION IS PLACED IN RECEIVERSHIP.

(B) (C) SUBJECT TO ANY OTHER CONDITIONS ESTABLISHED UNDER
LAW, IF THE FUND DIRECTOR IS REASONABLY SATISFIED THAT AN
INSURABLE LOSS WILL BE INCURRED UPON FINAL LIQUIDATION, IN ORDER
TO FACILITATE THE PAYMENT OF DEPOSIT INSURANCE TO DEPOSITORS OF A
MEMBER ASSOCIATION AND TO REASONABLY REDUCE THE ADMINISTRATIVE
COSTS OF A LIQUIDATION, INCLUDING DEMANDS ON ANY HARDSHIP
WITHDRAWAL PLAN, THE FUND MAY, EITHER UPON FINAL LIQUIDATION OR
EARLIER, AND EITHER FROM AVAILABLE MONEYS IN THE FUND OR FROM ANY
OTHER STATE FUNDS ADVANCED TO THE FUND FOR THAT PURPOSE;

(1)  MAKE A CASH PAYMENT OR PAYMENTS OR ISSUE AN
OBLIGATION UNDER A CONTRACT WITH ONE OR MORE INSURED INSTITUTIONS
WITH RESPECT TO THE MAKING AVAILABLE OF INSURED ACCOUNTS IN AN
AMOUNT EQUAL TO ALL OR ANY PORTION OF THE DEPOSITORS' SAVINGS
ACCOUNTS TO ANY OR ALL OF THE DEPOSITORS OF A MEMBER ASSOCIATION
IN RECEIVERSHIP; OR

(2)  MAKE A CASH PAYMENT OR PAYMENTS, IN AN AMOUNT
EQUAL TO ALL OR ANY PORTION OF THE DEPOSITORS' SAVINGS ACCOUNTS,
TO ANY OR ALL OF THE DEPOSITORS OF A MEMBER ASSOCIATION IN
RECEIVERSHIP, EITHER FROM AVAILABLE MONEYS IN THE FUND OR FROM
ANY OTHER STATE FUNDS ADVANCED TO THE FUND FOR THAT PURPOSE;

(3)  Or both.

(C) (D) UPON MAKING A CASH PAYMENT PURSUANT TO A CONTRACT
UNDER SUBSECTION (B) (C)(l) OF THIS SECTION OR DIRECTLY TO A
DEPOSITOR UNDER SUBSECTION (B) (C)(2) OF THIS SECTION, OR
OTHERWISE IN SATISFACTION OF ITS INSURANCE OBLIGATION WITH
RESPECT TO ANY DEPOSITOR, THE FUND SHALL BE SUBROGATED TO ALL
RIGHTS OF THE DEPOSITOR, INCLUDING ITS RIGHTS AGAINST THE ASSETS
OF THE MEMBER ASSOCIATION, ITS SHAREHOLDERS, DIRECTORS, OR
OFFICERS, TO THE EXTENT OF THE PAYMENT.

(D) (E) IN PROVING ITS ENTITLEMENT AS A SUBROGEE IN ANY
ACTION, THE FUND NEED ONLY SHOW PROOF OF:

(1)  REIMBURSEMENT OF A SAVINGS ACCOUNT HOLDER, IN
PART OR IN FULL, UNDER THIS TITLE; OR

(2)  THE MAKING OF PAYMENTS OR A CAPITAL CONTRIBUTION
OR THE ISSUANCE OF ITS OBLIGATIONS TO AN ENTITY THAT ASSUMES
SAVINGS DEPOSIT OR SHARE ACCOUNT LIABILITIES OF A MEMBER
ASSOCIATION.

10-110.2.