For the purpose of executing and performing the powers and duties hereby conferred upon him, the commissioner may, in the name of any such institution, prosecute and defend any legal proceedings, and may in the name of the institution execute, acknowledge and deliver any instruments necessary and proper to effectuate any sale of real or personal property or any compromise authorized by the court as herein provided; and any instrument executed pursuant to such authority shall be valid and effectual for all purposes to the same extent as though executed by the institution.