Section 5-605 - Appointment of receiver(a) Within a reasonable time after the Commissioner takes possession of a banking institution, the Commissioner, in the name of this State, shall petition an equity court in the county where the banking institution has its principal banking office to: (1) Take jurisdiction over the banking institution; and(2) Subject to subsection (b) of this section, appoint as receiver: (ii) The Federal Deposit Insurance Corporation.(b)(1) The Commissioner may petition for appointment of the Federal Deposit Insurance Corporation as receiver only of a banking institution that the Corporation insures.(2) Appointment of the Federal Deposit Insurance Corporation becomes effective when the Corporation files with the court and the court approves a certificate of acceptance.(c) A receiver shall provide any bond that the court requires.(d) If an examiner is appointed receiver, the examiner:(1) May not receive further compensation for services as receiver; but(2) Subject to order of the court, is entitled to reimbursement for expenses for legal and clerical help and travel.