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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 ->
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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 12 U.S.C. § 5387 Directors not liable for acquiescing in appointment of receiver us united_states_code code_section 12 BANKS AND BANKING 53 WALL STREET REFORM AND CONSUMER PROTECTION 5387 12 U.S.C. § 5387 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip /us/usc/t12/s5387 data/legal/raw/us/code/title-12/usc12.xml 85148415f5458ae289745b8da87b50daf44781cf57739deb167341d29c38f92a e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa cd268289c7ec1f46af26a4a8455a2d3be3318d56d697147d76d1d0ef63f62675 2026-07-04 official
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12 U.S.C. § 5387 - Directors not liable for acquiescing in appointment of receiver

Text

The members of the board of directors (or body performing similar functions) of a covered financial company shall not be liable to the shareholders or creditors thereof for acquiescing in or consenting in good faith to the appointment of the Corporation as receiver for the covered financial company under section 5383 of this title.

(Pub. L. 111203, title II, § 207, July 21, 2010, 124 Stat. 1459.)

Notes

Statutory Notes and Related Subsidiaries

Effective DateSection effective 1 day after July 21, 2010, except as otherwise provided, see section 4 of Pub. L. 111203, set out as a note under section 5301 of this title.