Title 12 — Banks and Banking
Chapter 53 — Wall Street Reform and Consumer Protection
§ 5392. Prohibition of circumvention and prevention of conflicts of interest
Statutory text
No other funding
Funds for the orderly liquidation of any covered financial company under this subchapter shall only be provided as specified under this subchapter.
Limit on governmental actions
No governmental entity may take any action to circumvent the purposes of this subchapter.
Conflict of interest
In the event that the Corporation is appointed receiver for more than 1 covered financial company or is appointed receiver for a covered financial company and receiver for any insured depository institution that is an affiliate of such covered financial company, the Corporation shall take appropriate action, as necessary to avoid any conflicts of interest that may arise in connection with multiple receiverships.
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.
Dodd-Frank Wall Street Reform and Consumer Protection Act
Pub. L. 111–203 title II § 212 · 124 Stat. 1376
Enacted · 12 U.S.C. § 5392
(Pub. L. 111–203, title II, § 212, July 21, 2010, 124 Stat. 1516.)
Source evidence
Code source credit
(Pub. L. 111–203, title II, § 212, July 21, 2010, 124 Stat. 1516.)Enacted provision · exact public law section
SEC. 212. PROHIBITION OF CIRCUMVENTION AND PREVENTION OF CONFLICTS OF INTEREST. (a) No Other Funding.— Funds for the orderly liquidation of any covered financial company under this title shall only be provided as specified under this title. (b) Limit on Governmental Actions.— No governmental entity may take any action to circumvent the purposes of this title. (c) Conflict of Interest.— In the event that the Corporation is appointed receiver for more than 1 covered financial company or is appointed receiver for a covered financial company and receiver for any insured depository institution that is an affiliate of such covered financial company, the Corporation shall take appropriate action, as necessary to avoid any conflicts of interest that may arise in connection with multiple receiverships.
1 of 1 references resolved to an enrolled provision
Editorial Notes
References in Text
This subchapter, referred to in subsecs. (a) and (b), was in the original “this title”, meaning title II of Pub. L. 111–203, , 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 , except as otherwise provided, see section 4 of Pub. L. 111–203, set out as a note under section 5301 of this title.