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>
48 lines
2.1 KiB
Markdown
48 lines
2.1 KiB
Markdown
---
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type: "LegalText"
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title: "12 U.S.C. § 5911"
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description: "Application of existing insolvency law"
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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: "56"
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chapter_name: "REGULATION OF PAYMENT STABLECOINS"
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section: "5911"
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citation: "12 U.S.C. § 5911"
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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/s5911"
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source_file: "data/legal/raw/us/code/title-12/usc12.xml"
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source_hash: "b6e14476a5b2a97eedffbee23f75364ebb8faf60a332dc529067e90f162911e7"
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raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
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text_hash: "821692a89643a4bff7f46aedf6ca95f05875a1f5ffaf4cebe04c3b6a52de719a"
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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. § 5911 - Application of existing insolvency law
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## Text
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In accordance with otherwise applicable law, an insolvency proceeding with respect to a permitted payment stablecoin issuer shall occur as follows:
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(1) A depository institution (as defined in section 1813 of this title) shall be resolved by the Federal Deposit Insurance Corporation, National Credit Union Administration, or State payment stablecoin regulator, as applicable.
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(2) A subsidiary of a depository institution (as defined in section 1813 of this title) or a nonbank entity may be considered a debtor under title 11.
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(Pub. L. 119–27, § 11(g), July 18, 2025, 139 Stat. 458.)
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## Notes
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Delayed Effective Date of SectionFor delayed effective date of section, see Effective Date note below.
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Statutory Notes and Related Subsidiaries
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Effective DateSection effective on the earlier of the date that is 18 months after July 18, 2025, or the date that is 120 days after the date on which the primary Federal payment stablecoin regulators issue any final regulations implementing Pub. L. 119–27, see section 20 of Pub. L. 119–27, set out as a note under section 5901 of this title.
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