12 U.S.C. § 1831aa — Enforcement of agreements
submitted 76 years ago by Pub. L. 109-351 to r/title-12-BANKS-AND-BANKING · 152 words · no verdicts yet
A Federal banking agency may enforce written conditions attached to an application or request and written agreements with a depository institution or affiliated party. After becoming receiver or conservator, the Corporation may enforce those conditions or agreements in Federal district court.
(a) In general. Despite the provisions cited in the statute, the appropriate Federal banking agency* may enforce under 12 U.S.C. § 1818 the terms of (1) a written condition the agency imposed on a depository institution or institution-affiliated party in connection with an application, notice, or other request, or (2) a written agreement between the agency and that institution or party.
(b) Receiverships and conservatorships. After the Corporation is appointed receiver or conservator for a depository institution, it may enforce such a condition or agreement against the institution or affiliated party in an appropriate United States district court.
Notwithstanding clause (i) or (ii) of section 1818(b)(6)(A) of this title or section 1831o(e)(2)(E)(i) of this title, the appropriate Federal banking agency* for a depository institution may enforce, under section 1818 of this title, the terms of—
any condition imposed in writing by the agency on the depository institution or an institution-affiliated party in connection with any action on any application, notice, or other request concerning the depository institution; or
any written agreement entered into between the agency and the depository institution or an institution-affiliated party.
After the appointment of the Corporation as the receiver or conservator for a depository institution, the Corporation may enforce any condition or agreement described in paragraph (1) or (2) of subsection (a) imposed on or entered into with such institution or institution-affiliated party through an action brought in an appropriate United States district court.
Source credit: (Sept. 21, 1950, ch. 967, § 2[50], as added Pub. L. 109–351, title VII, § 702(a), Oct. 13, 2006, 120 Stat. 1985.)
- 1950Enacted · Pub. L. 109-351 · 120 Stat. 1985
A history note hasn’t been published yet. The record shows enactment by Pub. L. 109-351 on 1950-09-21.
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