12 USC 5392 – Prohibition of circumvention and prevention of conflicts of interest
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(a) No other funding
Funds 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 actions
Terms Used In 12 USC 5392
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
No governmental entity may take any action to circumvent the purposes of this subchapter.
(c) Conflict of interest
In 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.