12 U.S.C. § 1465 — State law preemption standards for Federal savings associations clarified
submitted 93 years ago by Pub. L. 111-203 to r/title-12-BANKS-AND-BANKING · 182 words · no verdicts yet
This section addresses State law preemption standards for Federal savings associations clarified. It states the duties, permissions, limits, definitions, and procedures set out in the section.
(a) In general Any determination by a court or by the Director* or any successor officer or agency regarding the relation of State* law to a provision of this chapter or any regulation or order prescribed under this chapter must be made under the laws and legal standards applicable to national banks regarding the preemption of State law.
(b) Principles of conflict preemption applicable Despite the authorities granted under sections 1463 and 1464 of this title, this chapter does not occupy the field in any area of State law.
(c) Visitorial powers The provisions of sections 1 25b(i) of this title must apply to Federal savings associations, and any subsidiary of it, to the same extent and in the same manner as if such savings associations, or subsidiaries of it, were national banks or subsidiaries of national banks, respectively.
(d) Enforcement actions The ability of the Comptroller* of the Currency to bring an enforcement action under this chapter or section 45 of title 15 does not preclude any private party from enforcing rights granted under Federal or State law in the courts.
Any determination by a court or by the Director* or any successor officer or agency regarding the relation of State* law to a provision of this chapter or any regulation or order prescribed under this chapter shall be made in accordance with the laws and legal standards applicable to national banks regarding the preemption of State law.
Notwithstanding the authorities granted under sections 1463 and 1464 of this title, this chapter does not occupy the field in any area of State law.
The provisions of sections 1 25b(i) of this title shall apply to Federal savings associations, and any subsidiary thereof, to the same extent and in the same manner as if such savings associations, or subsidiaries thereof, were national banks or subsidiaries of national banks, respectively.
The ability of the Comptroller* of the Currency to bring an enforcement action under this chapter or section 45 of title 15 does not preclude any private party from enforcing rights granted under Federal or State law in the courts.
Source credit: (June 13, 1933, ch. 64, § 6, as added and amended Pub. L. 111–203, title X, §§ 1046(a), 1047(b), July 21, 2010, 124 Stat. 2017, 2018.)
- 1933Enacted · Pub. L. 111-203 · 124 Stat. 2017, 2018
A history note hasn’t been published yet. The record shows enactment by Pub. L. 111-203 on 1933-06-13.
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