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12 U.S.C. § 94 — Venue of suits

submitted 151 years ago by Pub. L. 97-320 to r/title-12-BANKS-AND-BANKING · 95 words · no verdicts yet

in plain englishAI-generated · not legal advice

Lawsuits against a national bank in FDIC receivership, or against the FDIC as receiver, must be filed in a specific court. That court sits where the bank's main office is located — a federal district court, or a qualifying state or local court.

This section says where you must sue when the Federal Deposit Insurance Corporation (FDIC) has taken over a failed national bank as receiver. You can bring the lawsuit — whether against the bank or against the FDIC as its receiver — in the federal district or territorial court for the district where the bank's main office is located. If a state, county, or municipal court also has jurisdiction over that kind of case, you may instead sue in that court, as long as it sits in the same county or city as the bank's main office.
the actual law source: uscode.house.gov ↗public domain

Any action or proceeding against a national banking association for which the Federal Deposit Insurance Corporation has been appointed receiver, or against the Federal Deposit Insurance Corporation as receiver of such association, shall be brought in the district or territorial court of the United States held within the district in which that association’s principal place of business is located, or, in the event any State, county, or municipal court has jurisdiction over such an action or proceeding, in such court in the county or city in which that association’s principal place of business is located.

Source credit: (R.S. § 5198; Feb. 18, 1875, ch. 80, § 1, 18 Stat. 320; Mar. 3, 1911, ch. 231, § 291, 36 Stat. 1167; Pub. L. 97–320, title IV, § 406, Oct. 15, 1982, 96 Stat. 1512; Pub. L. 97–457, § 20(a), Jan. 12, 1983, 96 Stat. 2509.)

history & why it existsrecord from the source credit
  • 1875Enacted · Act of Feb. 18, 1875, ch. 80 · 18 Stat. 320
  • 1911Amended · Act of Mar. 3, 1911, ch. 231 · 36 Stat. 1167
  • 1982Amended · Pub. L. 97-320 · 96 Stat. 1512
  • 1983Amended · Pub. L. 97-457 · 96 Stat. 2509

A history note hasn’t been published yet. The record shows enactment by Pub. L. 97-320 on 1875-02-18.

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