Statutes, codes, and regulations
United States Code
Title 12 - BANKS AND BANKINGChapter 53 - WALL STREET REFORM AND CONSUMER PROTECTION
Subchapter II - ORDERLY LIQUIDATION AUTHORITY
Section 5387 - Directors not liable for acquiescing in appointment of receiver

12 U.S.C. § 5387

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Current through P.L. 118-107 (published on www.congress.gov on 11/21/2024)
Section 5387 - Directors not liable for acquiescing in appointment of receiver

The members of the board of directors (or body performing similar functions) of a covered financial company shall not be liable to the shareholders or creditors thereof for acquiescing in or consenting in good faith to the appointment of the Corporation as receiver for the covered financial company under section 5383 of this title.

12 U.S.C. § 5387

Pub. L. 111-203, title II, §207, July 21, 2010, 124 Stat. 1459.

STATUTORY NOTES AND RELATED SUBSIDIARIES

EFFECTIVE DATESection effective 1 day after July 21, 2010, except as otherwise provided, see section 4 of Pub. L. 111-203 set out as a note under section 5301 of this title.