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12 U.S.C. § 204 — Examinations

submitted 93 years ago by ch. 1 to r/title-12-BANKS-AND-BANKING · 64 words · no verdicts yet

in plain englishAI-generated · not legal advice

The Comptroller of the Currency can examine and supervise a bank while it's under a conservator. This applies as long as the bank is still operating as a business. The FDIC's own reports can be used to help with this.

The Comptroller of the Currency — working with the FDIC's Board of Directors when the FDIC is the conservator — can examine and supervise a bank that's under a conservator's control, for as long as the bank keeps operating as a going concern (an active business). The Comptroller can use reports and other information the FDIC provides for this purpose.
the actual law source: uscode.house.gov ↗public domain

The Comptroller of the Currency (in consultation with the Board of Directors of the Federal Deposit Insurance Corporation when the Corporation is appointed conservator) is authorized to examine and supervise the bank in conservatorship as long as the bank continues to operate as a going concern. The Comptroller may use reports and other information provided by the Federal Deposit Insurance Corporation for this purpose.

Source credit: (Mar. 9, 1933, ch. 1, title II, § 204, 48 Stat. 3; Pub. L. 101–73, title VIII, § 803, Aug. 9, 1989, 103 Stat. 443.)

history & why it existsrecord from the source credit
  • 1933Enacted · Act of Mar. 9, 1933, ch. 1 · 48 Stat. 3
  • 1989Amended · Pub. L. 101-73 · 103 Stat. 443

A history note hasn’t been published yet. The record shows enactment by ch. 1 on 1933-03-09.

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