12 U.S.C. § 506 — Notice after separation from service
submitted 113 years ago by Pub. L. 101-73 to r/title-12-BANKS-AND-BANKING · 104 words · no verdicts yet
This section addresses Notice after separation from service. Its specific rules, powers, duties, limits, and definitions are set out in the provisions below.
The resignation, termination of employment or participation, or separation of an institution-affiliated party (within the meaning of section 1813(u) of this title ) about a member bank (including a separation caused by the closing of such a bank) must not affect the jurisdiction and authority of the Board to issue any notice and proceed under this section against any such party, if such notice is served before the end of the 6-year period beginning on the date such party ceased to be such a party about such bank (whether such date occurs before, on, or after August 9, 1989 ).
The resignation, termination of employment or participation, or separation of an institution-affiliated party (within the meaning of section 1813(u) of this title) with respect to a member bank (including a separation caused by the closing of such a bank) shall not affect the jurisdiction and authority of the Board to issue any notice and proceed under this section against any such party, if such notice is served before the end of the 6-year period beginning on the date such party ceased to be such a party with respect to such bank (whether such date occurs before, on, or after August 9, 1989).
Source credit: (Dec. 23, 1913, ch. 6, § 19(m), as added Pub. L. 101–73, title IX, § 905(g), Aug. 9, 1989, 103 Stat. 461.)
- 1913Enacted · Pub. L. 101-73 · 103 Stat. 461
A history note hasn’t been published yet. The record shows enactment by Pub. L. 101-73 on 1913-12-23.
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