Title 12 — Banks and Banking
Chapter 22 — Tying Arrangements
§ 1977. Limitation of actions; suspension of limitations
Statutory text
Subject to paragraph (2), any action to enforce any cause of action under this chapter shall be forever barred unless commenced within four years after the cause of action accrued.
Whenever any enforcement action is instituted by or on behalf of the United States with respect to any matter which is or could be the subject of a private right of action under this chapter, the running of the statute of limitations in respect of every private right of action arising under this chapter and based in whole or in part on such matter shall be suspended during the pendency of the enforcement action so instituted and for one year thereafter: Provided, That whenever the running of the statute of limitations in respect of a cause of action arising under this chapter is suspended under this paragraph, any action to enforce such cause of action shall be forever barred unless commenced either within the period of suspension or within the four-year period referred to in paragraph (1).
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Bank Holding Company Act Amendments of 1970
Pub. L. 91–607 title I § 106(g) · 84 Stat. 1760
Enacted · 12 U.S.C. § 1977
(Pub. L. 91–607, title I, § 106(g), Dec. 31, 1970, 84 Stat. 1768.)
Source evidence
Code source credit
(Pub. L. 91–607, title I, § 106(g), Dec. 31, 1970, 84 Stat. 1768.)Enacted provision · exact public law section
“(g) (1) Subject to paragraph (2), any action to enforce any cause of action under this section shall be forever barred unless commenced within four years after the cause of action accrued. (2) Whenever any enforcement action is instituted by or on behalf of the United States with respect to any matter which is or could be the subject of a private right of action under this section, the running of the statute of limitations in respect of every private right of action arising under this section and based in whole or in part on such matter shall be suspended during the pendency of the enforcement action so instituted and for one year thereafter: Provided, That whenever the running of the statute of limitations in respect of a cause of action arising under this section is suspended under this paragraph, any action to enforce such cause of action shall be forever barred unless commenced either within the period of suspension or within the four-year period referred to in paragraph (1).
1 of 1 references resolved to an enrolled provision