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Title 12 — Banks and Banking

Chapter 43 — Actions Against Persons Committing Bank Fraud Crimes

§ 4227. Unreviewed declarations; petition to pursue action as private contractor

Statutory text

(a)

Notification

(1)

If, pursuant to section 4226(d)(1)(B) of this title, the Attorney General notifies a declarant that the declarant’s allegations have not yet been addressed, the declarant may notify the Attorney General to award a contract pursuant to subchapter III to pursue the case.

(2)

A declarant’s notification under paragraph (1) shall be filed with the Attorney General not later than 30 days after the date of service of notice under section 4226(d)(1)(B) of this title, and the Attorney General shall respond to the notification not later than 30 days after receipt.

(b)

Contents of response

In response to a notification under subsection (a)(1), the Attorney General shall—

(1)

grant a contract pursuant to subchapter III; or

(2)

proceed with an action.

(c)

Grant of contract

If the Attorney General decides to grant a contract, the declarant, after consultation with the Attorney General, shall have the right to select counsel to prosecute an action, and the declarant and the declarant’s counsel shall act in accordance with subchapter III.

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.

  1. Financial Institutions Anti-Fraud Enforcement Act of 1990

    Pub. L. 101–647 title XXV § 2582 · 104 Stat. 4789

    Enacted · 12 U.S.C. § 4227

    (Pub. L. 101–647, title XXV, § 2582, Nov. 29, 1990, 104 Stat. 4903.)

    Source evidence

    Code source credit
    (Pub. L. 101–647, title XXV, § 2582, Nov. 29, 1990, 104 Stat. 4903.)

    Enacted provision · exact public law section
    SEC. 2582. UNREVIEWED DECLARATIONS: PETITION TO PURSUE ACTION AS PRIVATE CONTRACTOR. (a) Notification.— (1) If, pursuant to section 2581(d)(1)(B), the Attorney General notifies a declarant that the declarant’s allegations have not yet been addressed, the declarant may notify the Attorney General to award a contract pursuant to chapter 4 to pursue the case. (2) A declarant’s notification under paragraph (1) shall be filed with the Attorney General not later than 30 days after the date of service of notice under section 2581(d)(1)(B), and the Attorney General shall respond to the notification not later than 30 days after receipt. (b) Contents of Response.— In response to a notification under subsection (a)(1), the Attorney General shall— (1) grant a contract pursuant to chapter 4; or (2) proceed with an action. (c) Grant of Contract.— If the Attorney General decides to grant a contract, the declarant, after consultation with the Attorney General, shall have the right to select counsel to prosecute an action, and the declarant and the declarant’s counsel shall act in accordance with chapter 4.

1 of 1 references resolved to an enrolled provision

Credits

(Pub. L. 101–647, title XXV, § 2582, , 104 Stat. 4903.)

Parsed from the official OLRC USLM XML in data/usc_all/usc12.xml · release point 119-108 · OLRC build 2026-07-23

USLM identifier /us/usc/t12/s4227