Most banking laws empower the supervisory authority to appoint a conservator or receiver for a problem bank.2 Moreover, the banking law usually provides that the conservator will assume the powers of the officers, directors, and shareholders of the bank to make decisions or take actions, but not their economic rights.3 This chapter is concerned with con-servatorship and can provide the basis for instructions (rules, policies, and procedures) that the supervisory authority gives the conservator.