Section 28-7-2.5-3 - Appointment of conservator; bond or security; eligible conservators(a) The department may appoint a conservator for a credit union if the department determines that: (1) one (1) or more grounds for the appointment of a receiver under IC 28-1-3.1-2(a) exist with respect to the credit union; or(2) the appointment of a conservator is necessary to conserve the assets of the credit union for the benefit of the members, depositors, and other creditors of the credit union.(b) A conservator appointed under this section shall give any bond or security that the department considers appropriate.(c) The department may appoint any of the following as a conservator under this section: (1) A private insurance company authorized to insure deposits or share accounts in Indiana.(2) The National Credit Union Administration or its successor.(3) Any competent and disinterested person.As added by P.L. 10-2006, SEC.37 and P.L. 57-2006, SEC.37.