[Federal Register Volume 64, Number 149 (Wednesday, August 4, 1999)]
[Notices]
[Pages 42378-42379]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-20049]
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FEDERAL DEPOSIT INSURANCE CORPORATION
Notice Concerning Issuance of Powers of Attorney
AGENCY: Federal Deposit Insurance Corporation.
ACTION: Public notice.
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SUMMARY: In order to facilitate the discharge of its responsibilities
as a conservator and liquidator of insured depository institutions, the
Federal Deposit Insurance Corporation (FDIC) publishes the following
notice. The publication of this notice is intended to comply with Title
16, section 20 of the Oklahoma Statutes (16 O.S. 20) which, in part,
declares Federal agencies that publish notices in the Federal Register
concerning their promulgation of powers of attorney, to be exempt from
the statutory requirement of having to record such powers of attorney
in every county in which the agencies wish to effect the conveyance or
release of interests in land.
Notice
Pursuant to section 11 of the Federal Deposit Insurance (FDI) Act
(12 U.S.C. 1821), as amended by section 212 of the Financial
Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA),
the FDIC is empowered to act as conservator or receiver of any state or
federally chartered depository institution which it insures.
Furthermore, under section 11A of the FDI Act (12 U.S.C. 1821a), as
enacted under section 215 of FIRREA, the FDIC is also appointed to
manage the FSLIC Resolution Fund.
Upon appointment as a conservator or receiver, the FDIC by
operation of law becomes successor in title to the assets of the
depository institutions on behalf of which it is appointed. As Manager
of the FSLIC Resolution Fund, the FDIC became successor in title to
both the corporate assets formerly owned by the now defunct Federal
Savings and Loan Insurance Corporation (FSLIC), as well as to the
assets of the depository institutions for which the FSLIC was appointed
receiver prior to January 1, 1989. In addition, pursuant to section
13(c) of the FDI Act (12 U.S.C. 1823(c)), the FDIC also acquires legal
title in its corporate capacity to assets acquired in furtherance of
providing monetary assistance to prevent the closing of insured
depository institutions or to expedite the acquisition by assuming
depository institutions of assets and liabilities from closed
depository institutions of which the FDIC is receiver.
In order to facilitate the conservation and liquidation of assets
held by the FDIC in its aforementioned capacities, the FDIC has
provided powers of attorney to selected employees of its Dallas Field
Operations Branch. These employees include: Priscilla Catapat, Charles
W. Joyce and Karen Powell.
Each employee to whom a power of attorney has been issued is
authorized and empowered to: sign, seal and deliver as the act and deed
of the FDIC any instrument in writing, and to do every other thing
necessary and proper for the collection and recovery of any and all
monies and properties of every kind and nature whatsoever for and on
behalf of the FDIC and to give proper receipts and acquittances
therefore in the name and on behalf of the FDIC; release, discharge or
assign any and all judgments, mortgages on real estate or personal
property (including the release and discharge of the same of record in
the office of any Prothonotary or Register of Deeds wherever located
where payments on account of the same in redemption or otherwise may
have been made by the debtor(s)), and to endorse receipt of such
payment upon the records in any appropriate public office; receipt,
collect and give all proper acquittances for any other sums of money
owing to the FDIC for any acquired asset which the attorney-in-fact may
sell or dispose of; execute any and all transfers and assignments as
may be necessary to assign any securities or other choses in action;
sign, seal, acknowledge and deliver any and all agreements as shall be
deemed necessary or proper by the attorney-in-fact in the care and
management of acquired assets; sign, seal, acknowledge and deliver
indemnity agreements and surety bonds in the name of and on behalf of
the FDIC; sign receipts for the payment of all rents and profits due or
to become due on acquired assets; execute, acknowledge and deliver
deeds or real property in the name of the FDIC; extend, postpone,
release and satisfy or take such other action regarding any mortgage
lien held in the name of the FDIC; execute, acknowledge and deliver in
the name of the FDIC a power of attorney wherever necessary or required
by law to any attorney employed by the FDIC; foreclose any mortgage or
other lien on either real or personal property, wherever located; do
and perform every act necessary for the use, liquidation or
[[Page 42379]]
collection of acquired assets held in the name of the FDIC; and sign,
seal, acknowledge and deliver any and all documents as may be necessary
to settle any actions(s) or claim(s) asserted against the FDIC, either
in its Receivership or Corporate capacity, or as Manager of the FSLIC
Resolution Fund.
Dated: July 29, 1999.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 99-20049 Filed 8-3-99; 8:45 am]
BILLING CODE 6714-01-P
