The federally insured savings and loan, Superior Bank of Oakbrook Terrace, Ill., a Chicago suburb, was closed and the Federal Deposit Insurance Corporation was appointed as receiver.
"It's an ongoing process," said a spokesperson for Deloitte, the auditing firm appointed as receiver of the SIV.
Under the bill, once the Treasury stepped in to take over a failing firm, the Federal Deposit Insurance Corporation would be appointed as a receiver.
The Dodd-Frank overhaul of Wall Street regulations that President Obama signed in July allows for the Federal Deposit Insurance Corporation to be appointed as a receiver to bring about the "orderly liquidation" of huge financial companies as an alternative to bankruptcy court.
Mr. Vallone, whose father was speaker of the City Council and whose brother serves on the Council, said that he had been appointed as a receiver just four times in two decades, and that the receivership that paid him $16,600 lasted from 2008 to 2010.
That month, Justice Charles E. Ramos of State Supreme Court in Manhattan appointed Harvey Fishbein as receiver to manage the properties through foreclosure.
In 1847, the Joint Premier, William Henry Draper, appointed Macdonald as Receiver General.
For example, Congress gave the FDIC backup supervisory authority and the power to self-appoint as receiver when banks get into trouble.
The law appointed the F.D.I.C. as receiver to resolve teetering entities.
Justice Diamond appointed Mr. Lebow as receiver for the 11-story building in the diamond district, at 576 Fifth Avenue and West 47th Street, in 2009.
