Statute · United States Code
12 U.S.C. § 5392 — Prohibition of circumvention and prevention of conflicts of interest
12 U.S.C. § 5392
- Type
- Statute
- Source
- United States Code
- Jurisdiction
- Federal
- Date
- 2025-01-06
- Topic
- bankruptcy
Funds for the orderly liquidation of any covered financial company under this subchapter shall only be provided as specified under this subchapter. No governmental entity may take any action to circumvent the purposes of this subchapter. In the event that the Corporation is appointed receiver for more than 1 covered financial company or is appointed receiver for a covered financial company and receiver for any insured depository institution that is an affiliate of such covered financial company, the Corporation shall take appropriate action, as necessary to avoid any conflicts of interest that may arise in connection with multiple receiverships.
Funds for the orderly liquidation of any covered financial company under this subchapter shall only be provided as specified under this subchapter. No governmental entity may take any action to circumvent the purposes of this subchapter. In the event that the Corporation is appointed receiver for more than 1 covered financial company or is appointed receiver for a covered financial company and receiver for any insured depository institution that is an affiliate of such covered financial company, the Corporation shall take appropriate action, as necessary to avoid any conflicts of interest that may arise in connection with multiple receiverships.