12 CFR 51.9
§ 51.9 Termination of receivership.
United States · 12 CFR — Banks and Banking · Status: effective
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- Citation
- 12 CFR 51.9, § 51.9 Termination of receivership, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/43636
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Full text
If there are assets remaining after full payment of the expenses of the receiver and all claims of creditors for an uninsured bank and all fiduciary accounts of the bank have been closed or transferred to a successor fiduciary and fiduciary powers surrendered, the Comptroller shall call a meeting of the shareholders of the uninsured bank, as provided in 12 U.S.C. 197, for the shareholders to decide the manner in which the liquidation will continue. The liquidation may continue by:
(a) Continuing the receivership of the uninsured bank under the direction of the Comptroller; or
(b) Ending the receivership and oversight by the Comptroller and replacing the receiver with a liquidating agent to proceed to liquidate the remaining assets of the uninsured bank for the benefit of the shareholders, as set out in 12 U.S.C. 197.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.