FEDERAL · 12 U.S.C. · Chapter SUBCHAPTER II—ORDERLY LIQUIDATION AUTHORITY
Directors not liable for acquiescing in appointment of receiver
12 U.S.C. § 5387
Title12 — Banks and Banking
ChapterSUBCHAPTER II—ORDERLY LIQUIDATION AUTHORITY
This text of 12 U.S.C. § 5387 (Directors not liable for acquiescing in appointment of receiver) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
12 U.S.C. § 5387.
Text
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.
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Related
§ 5383
12 U.S.C. § 5383
Source Credit
History
(Pub. L. 111–203, title II, §207, July 21, 2010, 124 Stat. 1459.)
Editorial Notes
Statutory Notes and Related Subsidiaries
Effective Date
Section 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.
Effective Date
Section 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.
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Bluebook (online)
12 U.S.C. § 5387, Counsel Stack Legal Research, https://law.counselstack.com/usc/12/5387.