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12 U.S.C. · Banks and Banking
12 U.S.C. § 5394

Prohibition on taxpayer funding

Ch. 53 — WALL STREET REFORM AND CONSUMER PROTECTION
Title 12 U.S.C. ● ACTIVE Primary Source Ch. 53
Statutory Text

12 U.S.C. § 5394 — Prohibition on taxpayer funding

U.S.C. Title 12 - BANKS AND BANKING 12 U.S.C. United States Code, 2023 Edition Title 12 - BANKS AND BANKING CHAPTER 53 - WALL STREET REFORM AND CONSUMER PROTECTION SUBCHAPTER II - ORDERLY LIQUIDATION AUTHORITY Sec. 5394 - Prohibition on taxpayer funding From the U.S. Government Publishing Office, www.gpo.gov

§5394. Prohibition on taxpayer funding

(a) Liquidation required All financial companies put into receivership under this subchapter shall be liquidated. No taxpayer funds shall be used to prevent the liquidation of any financial company under this subchapter. (b) Recovery of funds All funds expended in the liquidation of a financial company under this subchapter shall be recovered from the disposition of assets of such financial company, or shall be the responsibility of the financial sector, through assessments. (c) No losses to taxpayers Taxpayers shall bear no losses from the exercise of any authority under this subchapter.

(Pub. L. 111–203, title II, §214, July 21, 2010, 124 Stat. 1518.)

Editorial Notes

References in Text This 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.

Statutory Notes and Related Subsidiaries

Effective Date Section 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.

Source: uscode.house.gov — public domain Official Source ↗
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12 U.S.C. § 5394
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The statutory text of 12 U.S.C. § 5394 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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← 12 U.S.C. § 5393 12 U.S.C. § 5401 →
Ch. 53 — WALL STREET REFORM AND CONSUMER PROTECTION
12 U.S.C. § 530112 U.S.C. § 530212 U.S.C. § 530312 U.S.C. § 531112 U.S.C. § 532112 U.S.C. § 532212 U.S.C. § 532312 U.S.C. § 532412 U.S.C. § 532512 U.S.C. § 532612 U.S.C. § 532712 U.S.C. § 532812 U.S.C. § 532912 U.S.C. § 533012 U.S.C. § 533112 U.S.C. § 533212 U.S.C. § 533312 U.S.C. § 533412 U.S.C. § 533512 U.S.C. § 534112 U.S.C. § 534212 U.S.C. § 534312 U.S.C. § 534412 U.S.C. § 534512 U.S.C. § 534612 U.S.C. § 536112 U.S.C. § 536212 U.S.C. § 536312 U.S.C. § 536412 U.S.C. § 5365
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