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maximizes the value of the assets of the licensed financial institution or licensed financial holding company.

(3) For purposes of this section, “insolvent” means the licensed financial institution or licensed financial holding company is not paying or is unable to pay its obligations as they fall due or the value of its liabilities exceeds the value of its assets;

(4) The value of a licensed financial institution’s or licensed financial holding company’s assets, liabilities and capital shall be determined in accordance with valuation standards and procedures issued by the Central Bank.

Qualifications and compensation for receiver 139. (1) A receiver may be: (a) a person from the private sector or an official of the Central Bank who meets the qualifications determined by the Central Bank; or (b) any institution established by Participating Governments whose mandate includes that of receivership.

(2) The Central Bank may dismiss a receiver and replace the receiver with another qualified person.

(3) The terms of the receiver’s compensation shall be set by the Central Bank.

(4)

The Central Bank may on a current basis pay: (a). compensation to the receiver;

(b). compensation to the experts engaged by the receiver; (c). reimbursement to both the receiver and the experts for their expenses.

(5) Any amounts paid by the Central Bank under this section and any remaining costs of the receivership at the end of the term of receivership shall be paid from the proceeds

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