§ 506. Notice after separation from service

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. 1989

   Financial Institutions Reform, Recovery, and Enforcement Act of 1989

   Pub. L. 101–73 title IX § 905(g) · 103 Stat. 183

   Enacted · 12 U.S.C. § 506

   (Dec. 23, 1913, ch. 6, § 19(m), as added Pub. L. 101–73, title IX, § 905(g), Aug. 9, 1989, 103 Stat. 461.)

   Source evidence

   Code source credit
   (Dec. 23, 1913, ch. 6, § 19(m), as added Pub. L. 101–73, title IX, § 905(g), Aug. 9, 1989, 103 Stat. 461.)

   Enacted provision · exact public law section
   (g) Member Banks.— Section 19 of the Federal Reserve Act (12 U.S.C. 505) is amended by adding at the end thereof the following 12 USC 506. new subsection: “(m) Notice Under This Section After Separation From Service.— The resignation, termination of employment or participation, or separation of an institution-affiliated party (within the meaning of section 3(u) of the Federal Deposit Insurance Act) with respect to a member bank (including a separation caused by the closing of such a bank) shall not affect the jurisdiction and authority of the Board to issue any notice and proceed under this section against any such party, if such notice is served before the end of the 6-year period beginning on the date such party ceased to be such a party with respect to such bank (whether such date occurs before, on, or after the date of the enactment of this subsection).”.

1 of 1 references resolved to an enrolled provision