12 U.S.C. § 5387
Directors not liable for acquiescing in appointment of receiver
United States · Title 12 — BANKS AND BANKING · Status: effective
Cite this
- Citation
- 12 U.S.C. § 5387, Directors not liable for acquiescing in appointment of receiver, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/439009
- Permanent ID
ys:prov:439009@1- SHA-256
c78f6095b7728e603309aa7fe114500802bfcae99c917feec95e96510cc19668
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Full 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.
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone.
- Dodd-Frank Wall Street Reform and Consumer Protection Act