12 CFR 1237.13
§ 1237.13 Payment of Securities Litigation Claims while in conservatorship.
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 1237.13, § 1237.13 Payment of Securities Litigation Claims while in conservatorship, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/50523
- Permanent ID
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Full text
(a) Payment of Securities Litigation Claims while in conservatorship. The Agency, as conservator, will not pay a Securities Litigation Claim against a regulated entity, except to the extent the Director determines is in the interest of the conservatorship.
(b) Claims against limited-life regulated entities. A limited-life regulated entity shall not assume, acquire, or succeed to any obligation that a regulated entity for which a receiver has been appointed may have to any shareholder of the regulated entity that arises as a result of the status of that person as a shareholder of the regulated entity, including any Securities Litigation Claim. No creditor of the regulated entity shall have a claim against a limited-life regulated entity unless the receiver has transferred that liability to the limited-life regulated entity. The charter of the regulated entity, or of the limited-life regulated entity, is not an asset against which any claim can be made by any creditor or shareholder of the regulated entity.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.