12 2 STA T . 2 735PUBLIC LA W 11 0– 2 89—J UL Y 30 , 2008 ‘ ‘ (i)anyv i ol a t ion o f any pr ovi s ion of Fed eral or S tate la w; or ‘‘(ii) any u nsafe or unsound pra c tice . ‘‘( C ) UNSAFEORU NSOUN DC OND IT ION. —A n unsafe or unsound condition to transact b usiness. ‘‘( D ) CEASE AND DESIST ORDERS.—Any willful violation of a cease and desist order t h at has beco m e final. ‘‘( E ) CONCEA LM ENT.—Any concealment of the boo k s , papers, records, or assets of the re g ulated entity, or any refusal to submit the books, papers, records, or affairs of the regulated entity, for inspection to any e x aminer or to any lawful agent of the Director. ‘‘(F) I NA B ILIT Y TO MEET OBLI G ATIONS.— T he regulated entity is likely to be unable to pay its obligations or meet the demands of its creditors in the normal course of busi - ness. ‘‘( G ) L OSSES.—The regulated entity has incurred or is likely to incur losses that will deplete all or substantially all of its capital, and there is no reasonable prospect for the regulated entity to become ade q uately capitali z ed (as defined in section 1364 (a)(1)). ‘‘( H ) V IOLATIONS OF LA W .—Any violation of any law or regulation, or any unsafe or unsound practice or condi- tion that is likely to— ‘‘(i) cause insolvency or substantial dissipation of assets or earnings; or ‘‘(ii) weaken the condition of the regulated entity. ‘‘(I) CONSENT.—The regulated entity, by resolution of its board of directors or its shareholders or members, con- sents to the appointment. ‘‘( J ) UNDERCA P ITALI Z ATION.—The regulated entity is undercapitalized or significantly undercapitalized (as defined in section 1364(a)(3)), and— ‘‘(i) has no reasonable prospect of becoming ade- quately capitalized; ‘‘(ii) fails to become adequately capitalized, as required by— ‘‘(I) section 136 5 (a)(1) with respect to a regu- lated entity; or ‘‘(II) section 1366(a)(1) with respect to a signifi- cantly undercapitalized regulated entity; ‘‘(iii) fails to submit a capital restoration plan acceptable to the Agency within the time prescribed under section 136 9 C; or ‘‘(iv) materially fails to implement a capital res- toration plan submitted and accepted under section 1369C. ‘‘( K ) CRITICAL UNDERCAPITALIZATION.—The regulated entity is critically undercapitalized, as defined in section 1364(a)(4). ‘‘(L) M ONEY LAUNDERING.—The Attorney General noti- fies the Director in writing that the regulated entity has been found guilty of a criminal offense under section 1956 or 195 7 of title 1 8 , United States Code, or section 53 2 2 or 5324 of title 31, United States Code. ‘‘(4) MANDATORY RECEI V ERS H IP.— Notif i ca tio n.
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