12 C.F.R. · Banks and Banking
12 C.F.R. § 51.9

Termination of receivership.

Title 12 C.F.R. ● ACTIVE Primary Source
Regulatory Text

12 C.F.R. § 51.9 — Termination of receivership.

§ 51.9 Termination of receivership. If there are assets remaining after full payment of the expenses of the receiver and all claims of creditors for an uninsured bank and all fiduciary accounts of the bank have been closed or transferred to a successor fiduciary and fiduciary powers surrendered, the Comptroller shall call a meeting of the shareholders of the uninsured bank, as provided in 12 U.S.C. 197, for the shareholders to decide the manner in which the liquidation will continue. The liquidation may continue by: (a) Continuing the receivership of the uninsured bank under the direction of the Comptroller; or (b) Ending the receivership and oversight by the Comptroller and replacing the receiver with a liquidating agent to proceed to liquidate the remaining assets of the uninsured bank for the benefit of the shareholders, as set out in 12 U.S.C. 197.

Source: ecfr.gov · govinfo.gov — public domain Official Source ↗
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BS-CFR12-SEC-D904CA
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12 C.F.R. § 51.9
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The regulatory text of 12 C.F.R. § 51.9 is reproduced from the official Code of Federal Regulations as published by the Office of the Federal Register and the National Archives and Records Administration.
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