Title 12 — Banks and Banking
Chapter 45 — Payment System Risk Reduction
§ 4405. Preemption
Statutory text
No stay, injunction, avoidance, moratorium, or similar proceeding or order, whether issued or granted by a court, administrative agency, or otherwise, shall limit or delay application of otherwise enforceable netting contracts in accordance with sections 4403 and 4404 of this title.
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.
Federal Deposit Insurance Corporation Improvement Act of 1991
Pub. L. 102–242 title IV § 405 · 105 Stat. 2236
Enacted · 12 U.S.C. § 4405
(Pub. L. 102–242, title IV, § 405, Dec. 19, 1991, 105 Stat. 2375.)
Source evidence
Code source credit
(Pub. L. 102–242, title IV, § 405, Dec. 19, 1991, 105 Stat. 2375.)Enacted provision · exact public law section
SEC. 405. PREEMPTION. No stay, injunction, avoidance, moratorium, or similar proceeding or order, whether issued or granted by a court, administrative agency, or otherwise, shall limit or delay application of otherwise enforceable netting contracts in accordance with sections 403 and 404.
1 of 1 references resolved to an enrolled provision