Fabio
76b8ec33a7
Ingested titles 12–51 and 54 from OLRC USLM XML @119-100 (the whole Code now, uniform edition; Title 53 is reserved/empty). LegalText 11,221 -> 59,740; repo total 105,704 records. Deterministic (byte-identical rerun, verified on Title 42's 8,356 sections); make check green. make legal-us-code default now covers every title. Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
58 lines
2.8 KiB
Markdown
58 lines
2.8 KiB
Markdown
---
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type: "LegalText"
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title: "12 U.S.C. § 5386"
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description: "Mandatory terms and conditions for all orderly liquidation actions"
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jurisdiction: "us"
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corpus: "united_states_code"
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kind: "code_section"
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title_number: 12
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title_name: "BANKS AND BANKING"
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chapter_number: "53"
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chapter_name: "WALL STREET REFORM AND CONSUMER PROTECTION"
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section: "5386"
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citation: "12 U.S.C. § 5386"
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status: "current"
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release_point: "119-100"
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release_date: "2026-06-26"
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source: "official"
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source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
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source_identifier: "/us/usc/t12/s5386"
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source_file: "data/legal/raw/us/code/title-12/usc12.xml"
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source_hash: "dbf22e847b3c4597f09fab252758ca34f300d9204d96063b76551ad498e999f8"
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raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
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text_hash: "c273df3b766356b240949f1230f404758293b8cf40c085bb78c2f52d08b4b670"
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retrieved_at: "2026-07-04"
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confidence: "official"
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tags: ["legal", "us-code"]
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---
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# 12 U.S.C. § 5386 - Mandatory terms and conditions for all orderly liquidation actions
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## Text
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In taking action under this subchapter, the Corporation shall—
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(1) determine that such action is necessary for purposes of the financial stability of the United States, and not for the purpose of preserving the covered financial company;
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(2) ensure that the shareholders of a covered financial company do not receive payment until after all other claims and the Fund are fully paid;
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(3) ensure that unsecured creditors bear losses in accordance with the priority of claim provisions in section 5390 of this title;
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(4) ensure that management responsible for the failed condition of the covered financial company is removed (if such management has not already been removed at the time at which the Corporation is appointed receiver);
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(5) ensure that the members of the board of directors (or body performing similar functions) responsible for the failed condition of the covered financial company are removed, if such members have not already been removed at the time the Corporation is appointed as receiver; and
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(6) not take an equity interest in or become a shareholder of any covered financial company or any covered subsidiary.
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(Pub. L. 111–203, title II, § 206, July 21, 2010, 124 Stat. 1459.)
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## Notes
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Editorial Notes
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References in TextThis subchapter, referred to in text, 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.
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Statutory Notes and Related Subsidiaries
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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.
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