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12 U.S.C. § 5387 — Directors not liable for acquiescing in appointment of receiver

submitted 16 years ago by Pub. L. 111-203 to r/title-12-BANKS-AND-BANKING · 55 words · no verdicts yet

in plain englishAI-generated · not legal advice

A translation hasn’t been published for this section yet. The official text below is complete and authoritative.

the actual law source: uscode.house.gov ↗public domain

The members of the board of directors (or body performing similar functions) of a covered financial company shall not be liable to the shareholders or creditors thereof for acquiescing in or consenting in good faith to the appointment of the Corporation as receiver for the covered financial company under section 5383 of this title.

Source credit: (Pub. L. 111–203, title II, § 207, July 21, 2010, 124 Stat. 1459.)

history & why it existsrecord from the source credit
  • 2010Enacted · Pub. L. 111-203 · 124 Stat. 1459

A history note hasn’t been published yet. The record shows enactment by Pub. L. 111-203 on 2010-07-21.

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