12 USC 5387: Directors not liable for acquiescing in appointment of receiver
Text contains those laws in effect on December 24, 2024
From Title 12-BANKS AND BANKINGCHAPTER 53-WALL STREET REFORM AND CONSUMER PROTECTIONSUBCHAPTER II-ORDERLY LIQUIDATION AUTHORITY
§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.
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Statutory Notes and Related Subsidiaries
Effective Date
Section effective 1 day after July 21, 2010, except as otherwise provided, see section 4 of