Prohibition of circumvention and prevention of conflicts of interest
About This Law
/us/usc/t12/s5392
Title
12 — Banks and Banking
Chapter
CH53
Release
119-84
Release Date
2026-04-17
Section Text
Highlight any text to annotate
(a) No other fundingFunds for the orderly liquidation of any covered financial company under this subchapter shall only be provided as specified under this subchapter.
(b) Limit on governmental actionsNo governmental entity may take any action to circumvent the purposes of this subchapter.
(c) Conflict of interestIn the event that the Corporation is appointed receiver for more than 1 covered financial company or is appointed receiver for a covered financial company and receiver for any insured depository institution that is an affiliate of such covered financial company, the Corporation shall take appropriate action, as necessary to avoid any conflicts of interest that may arise in connection with multiple receiverships.
(Pub. L. 111–203, title II, § 212, July 21, 2010, 124 Stat. 1516.)
Editorial Notes
References in TextThis subchapter, referred to in subsecs. (a) and (b), was in the original “this title”, meaning title II of Pub. L. 111–203, July 21, 2010, 124 Stat. 1442, which is classified principally to this subchapter. For complete classification of title II to the Code, see Tables.
Statutory Notes and Related Subsidiaries
Effective DateSection effective 1 day after July 21, 2010, except as otherwise provided, see section 4 of Pub. L. 111–203, set out as a note under section 5301 of this title.
Take Action
Your position
Add a comment
to comment on this section.
Annotate the text
Highlight any passage on the Full Text tab to attach a note. Annotations appear on the Annotations tab.