§ 1237.5. Contracts entered into before appointment of a conservator or receiver.
67 words·~1 min read·
/us/cfr/t12/s§ 1237.5·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)The conservator or receiver for any regulated entity may disaffirm or repudiate any contract or lease to which such regulated entity is a party pursuant to section 1367(d) of the Safety and Soundness Act.
(b)For purposes of section 1367(d)(2) of the Safety and Soundness Act, a reasonable period shall be defined as a period of 18 months following the appointment of a conservator or receiver.