FDIC Law, Regulations, Related Acts
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1000 - Federal Deposit Insurance Act
(q) Expedited Procedures for Certain Claims.--
[Codified to 12 U.S.C. 1821(q)]
[Source: Section 2[11(q)] of the Act of September 1, 1950 (Pub. L. No. 797), effective September 21, 1950, as added by section 2527(a) of title XXV of the Act of November 29, 1990 (Pub. L. No. 101--647; 104 Stat. 4877), effective November 29, 1990; section 602(a)(32) of title VI of the Act of September 23, 1994 (Pub. L. No. 103--325; 108 Stat. 2289), effective September 23, 1994]
(r) Foreign Investigations.--The Corporation, as conservator or receiver of any insured depository institution and for purposes of carrying out any power, authority, or duty with respect to an insured depository institution--
[Codified to 12 U.S.C. 1821(r)]
Source: Section 2[11(r)] of the Act of September 1, 1950 (Pub. L. No. 797), effective September 21, 1950, as added by section 2532(b) of title XXV of the Act of November 29, 1990 (Pub. L. No. 101--647; 104 Stat. 4880), effective November 29, 1990; section 363(5)(F) of title III of the Act of July 21, 2010 (Pub. L. No. 111--203; 124 Stat. 1553), effective July 21, 2010 ]
(s) Prohibition on Entering Secrecy Agreements and Protective Orders.--The Corporation may not enter into any agreement or approve any protective order which prohibits the Corporation from disclosing the terms of any settlement of an administrative or other action for damages or restitution brought by the Corporation in its capacity as conservator or receiver for an insured depository institution.
[Codified to 12 U.S.C. 1821(s)]
[Source: Section 2[11(s)] of the Act of September 21, 1950 (Pub. L. No. 797; 64 Stat. 882), effective September 21, 1950, as added by section 446 of title IV of the Act of December 19, 1991 (Pub. L. No. 102--242; 105 Stat. 2382), effective December 19, 1991]
(t) Agencies May Share Information Without Waiving Privilege.--
[Codified to 12 U.S.C. 1821(t)]
[Source: Section 2[11(t)] of the Act of September 21, 1950 (Pub. L. No. 797; 64 Stat. 882), effective September 21, 1950, as added by section 1544 of title XV of the Act of October 28, 1992 (Pub. L. No. 102--550; 106 Stat. 4069), effective October 28, 1992; section 106(i) of title I of the Act of October 19, 1996 (Pub. L. No. 104-316; 110 Stat. 3831), effective October 19, 1996; section 724 of title VII of the Act of October 13, 2006 (Pub. L. No. 109--351; 120 Stat. 2001), effective October 13, 2006; section 8(b) of the Act of July 7, 2004 (Pub. L. No. 108--271; 118 Stat. 814), effective July 7, 2004; section 1161(i) of title I of the Act of July 30, 2008 (Pub. L. No. 110--289; 122 Stat. 2781), effective July 30, 2008; section 1(1) of the Act of December 20, 2012 (Pub. L. No. 112--215; 126 Stat. 1589), effective December 20, 2012]
(u) Purchase Rights of Tenants.--
[Codified to 12 U.S.C. 1821(u)]
[Source: Section 2[11(u)] of the Act of September 21, 1950 (Pub. L. No. 797; 64 Stat. 882), effective September 21, 1950, as added by section 15(b) of the Act of December 17, 1993 (Pub. L. No. 103--204; 107 Stat. 2399), effective December 17, 1993; section 602(a)(33) of title VI of the Act of September 23, 1994 (Pub. L. No. 103--325; 108 Stat. 2289), effective September 23, 1994]
(v) Preference for Sales for Homeless Families.--Subject to subsection (u) of this section, in selling any real property other than eligible residential property and eligible condominium property, as such terms are defined in section 40(p)) to which the Corporation acquires title, the Corporation shall give preference among offers to purchase the property that will result in the same net present value proceeds, to any offer that would provide for the property to be used, during the remaining useful life of the property, to provide housing or shelter for homeless persons (as such term is defined in section 103 of the Stewart B. McKinney Homeless Assistance Act [Title 42]) or homeless families.
[Codified to 12 U.S.C. 1821(v)]
[Source: Section 2[11(v)] of the Act of September 21, 1950 (Pub. L. No. 797; 64 Stat. 882), effective September 21, 1950, as added by section 16(b) of the Act of December 17, 1993 (Pub. L. No. 103--204; 107 Stat. 2400), effective December 17, 1993]
(w) Preferences for Sales of Certain Commercial Real Properties.--
[Codified to 12 U.S.C. 1821(w)]
[Source: Section 2[11(w)] of the Act of September 21, 1950 (Pub. L. No. 797; 64 Stat. 882), effective September 21, 1950, as added by section 17(b) of the Act of December 17, 1993 (Pub. L. No. 103--204; 107 Stat. 2401), effective December 17, 1993]
NOTES
Derivation. Section 11 derives from section 12B(l) of the Federal Reserve Act, as added by section 8 of the Act of June 16, 1933 (Pub. L. No. 66; 48 Stat. 172), effective June 16, 1933. Section 12B(l) of the Federal Reserve Act was amended by paragraphs (1) and (8) of the Act of June 16, 1934 (Pub. L. No. 362; 48 Stat. 969, 970), effective June 16, 1934; the Act of June 28, 1935 (Pub. L. No. 38; 49 Stat. 435), effective June 28, 1935; section 101[12B(l)] of title I of the Act of August 23, 1935 (Pub. L. No. 305; 49 Stat. 694), effective August 23, 1935; and the Act of May 25, 1938 (Pub. L. No. 544; 52 Stat. 442), effective May 25, 1938. By section 1 of the Act of September 21, 1950 (Pub. L. No. 797; 64 Stat. 873), effective September 21, 1950, section 12B of the Federal Reserve Act was withdrawn as a part of that Act and was made a separate act known as the "Federal Deposit Insurance Act."
Sections 11(i) and (j) derive from sections 503(a)(3) and 507 of the Act of August 10, 1987 (Pub. L. No. 100--86; 101 Stat. 629 and 634, respectively), effective August 10, 1987.
Sections 11(k)-(o) were enacted by sections 212(a), 213, 214, and 901 of the Act of August 9, 1989, known as the "FIRRE Act", (Pub. L. No. 101--73; 103 Stat. 222, 243, 246, and 477), effective August 9, 1989.
Implementing Regulations. FDIC regulations implementing and applying section 11 of the Federal Deposit Insurance Act, entitled "Part 307--"Notification of Changes of Insured Status," appear under the "FDIC Rules and Regulations" tabcard.
1So in original. Probably should be "title 28". Go back to Text
1So in original. Probably should be preceded by "The". Go back to Text