12 U.S.C. § 1811 — Federal Deposit Insurance Corporation
submitted 76 years ago by ch. 967 to r/title-12-BANKS-AND-BANKING · 126 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
There is hereby established a Federal Deposit Insurance Corporation (hereinafter referred to as the “Corporation”) which shall insure, as hereinafter provided, the deposits of all banks and savings associations which are entitled to the benefits of insurance under this chapter, and which shall have the powers hereinafter granted.
The Corporation shall have a separate division of asset disposition.
The division of asset disposition shall have an administrator who shall be appointed by the Board of Directors.
The division of asset disposition shall carry out all of the responsibilities of the Corporation under this chapter relating to the liquidation of insured depository institutions and the disposition of assets of such institutions.
Source credit: (Sept. 21, 1950, ch. 967, § 2[1], 64 Stat. 873; Pub. L. 101–73, title II, § 202, Aug. 9, 1989, 103 Stat. 188; Pub. L. 103–204, § 22(a), Dec. 17, 1993, 107 Stat. 2407.)
- 1950Enacted · Act of Sept. 21, 1950, ch. 967 · 64 Stat. 873
- 1989Amended · Pub. L. 101-73 · 103 Stat. 188
- 1993Amended · Pub. L. 103-204 · 107 Stat. 2407
A history note hasn’t been published yet. The record shows enactment by ch. 967 on 1950-09-21.
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