; or (iii) the continued operation of such payment stablecoin issuer or issuers in default or in danger of default with respect to which the bridge issuer is chartered is in the best interest of the customer of such issuer or issuers in default or in danger of default or the public. (B) Insured national bank or Federal savings association A bridge depository institution shall be a national payment stablecoin issuer from the time it is chartered by the Comptroller as a depository institution. (C) Bridge bank treated as being in default for certain purposes A bridge payment stablecoin issuer shall be treated as an issuer in default at such times and for such purposes as the Corporation may, in its discretion, determine. (D) Management A bridge payment stablecoin issuer, upon the granting of its charter, shall be under the management of a board of directors consisting of not fewer than 5 nor more than 10 members appointed by the Corporation. (E) Bylaws The board of directors of a bridge payment stablecoin issuer shall adopt such bylaws as may be approved by the Corporation. (3) Transfer of assets and liabilities (A) In general (i) Transfer upon grant of charter Upon the granting of a charter to a bridge payment stablecoin issuer pursuant to this subsection, the Corporation, as receiver, or any other receiver appointed with respect to any payment stablecoin issuer in default with respect to which the bridge payment stablecoin issuer is chartered may transfer any assets and liabilities of such issuer in default to the bridge issuer in accordance with paragraph (1). (ii) Subsequent transfers At any time after a charter is granted to a bridge payment stablecoin issuer, the Corporation, as receiver, or any other receiver appointed with respect to a payment stablecoin issuer in default may transfer any assets and liabilities of such issuer in default as the Corporation may, in its discretion, determine to be appropriate in accordance with paragraph (1). (iii) Effective without approval The transfer of any assets or