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12 U.S.C. § 5434Funds transferredtransferred

submitted 16 years ago by Pub. L. 111-203 to r/title-12-BANKS-AND-BANKING · 175 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section transfers surplus Office of Thrift Supervision funds to the Comptroller of the Currency, the Corporation, or the Board of Governors. The funds must be used for the purposes and periods stated in the section.

The funds that, on the day before the transfer date, the Director of the Office of Thrift Supervision (in consultation with the Comptroller of the Currency, the Chairperson of the Corporation, and the Chairman of the Board of Governors) determines are not necessary to dispose of the affairs of the Office of Thrift Supervision under section 5435 of this title and are available to the Office of Thrift Supervision to pay the expenses of the Office of Thrift Supervision— (1) relating to the functions of the Office of Thrift Supervision transferred under section 5412(b)(2)(B) of this title , must be transferred to the Office of the Comptroller of the Currency on the transfer date; (2) relating to the functions of the Office of Thrift Supervision transferred under section 5412(b)(2)(C) of this title , must be transferred to the Corporation on the transfer date; and (3) relating to the functions of the Office of Thrift Supervision transferred under section 5412(b)(1)(A) of this title , must be transferred to the Board of Governors on the transfer date.
the actual law source: uscode.house.gov ↗public domain

The funds that, on the day before the transfer date, the Director of the Office of Thrift Supervision (in consultation with the Comptroller of the Currency, the Chairperson of the Corporation, and the Chairman of the Board of Governors) determines are not necessary to dispose of the affairs of the Office of Thrift Supervision under section 5435 of this title and are available to the Office of Thrift Supervision to pay the expenses of the Office of Thrift Supervision—

(1)

relating to the functions of the Office of Thrift Supervision transferred under section 5412(b)(2)(B) of this title, shall be transferred to the Office of the Comptroller of the Currency on the transfer date;

(2)

relating to the functions of the Office of Thrift Supervision transferred under section 5412(b)(2)(C) of this title, shall be transferred to the Corporation on the transfer date; and

(3)

relating to the functions of the Office of Thrift Supervision transferred under section 5412(b)(1)(A) of this title, shall be transferred to the Board of Governors on the transfer date.

Source credit: (Pub. L. 111–203, title III, § 324, July 21, 2010, 124 Stat. 1536.)

history & why it existsrecord from the source credit
  • 2010Enacted · Pub. L. 111-203 · 124 Stat. 1536

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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