12-U.S.C.-5392

§5392 – Prohibition of Circumvention and Prevention of Conflicts of Interest

Pathway

Title 12 > Chapter 53 > Subchapter II > Section 5392

Details

• Reference: Section 5392
• Legend: §5392 – Prohibition of Circumvention and Prevention of Conflicts of Interest
• USCode Year: 2013

Provision Content

(a) No other funding

Funds for the orderly liquidation of any covered financial company under this subchapter shall only be provided as specified under this subchapter.

(b) Limit on governmental actions

No governmental entity may take any action to circumvent the purposes of this subchapter.

(c) Conflict of interest

In the event that the Corporation is appointed receiver for more than 1 covered financial company or is appointed receiver for a covered financial company and receiver for any insured depository institution that is an affiliate of such covered financial company, the Corporation shall take appropriate action, as necessary to avoid any conflicts of interest that may arise in connection with multiple receiverships.

(Pub. L. 111–203, title II, §212, July 21, 2010, 124 Stat. 1516.)

References in Text

This subchapter, referred to in subsecs. (a) and (b), was in the original this title, meaning title II of Pub. L. 111–203, July 21, 2010, 124 Stat. 1442, which is classified principally to this subchapter. For complete classification of title II to the Code, see Tables.

U.S. Encyclopedia of Law Coverage

12-U.S.C.-5389 in the Legal Encyclopedia: Banking Law

In this entry about 12-U.S.C.-5389, find legal reference material, bibliographies and premiere content related to banking law in the American Encyclopedia of Law, presenting a comprehensive view of the United States banking law-specific issues, written by authorities in the field.

12-U.S.C.-5383 in the Legal Encyclopedia: Banking Reform

In this entry about 12-U.S.C.-5383, find legal reference material, bibliographies and premiere content related to banking reform in the American Encyclopedia of Law, presenting a comprehensive view of the United States banking reform-specific issues, written by authorities in the field.

Topic Map

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