§ 4225. Rights of declarants; participation in actions, awards
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/usc/title-12/section-4225A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)In general A person who has filed a declaration that meets the requirements of sections 4221 through 4224 of this title shall have the rights stated in this section.
(b)Civil action If the Attorney General determines that a proceeding to recover the asset or assets identified in the declaration should be referred to private counsel pursuant to subchapter III, the declarant, after consultation with the Attorney General, shall have the right to select counsel to prosecute the action, and the declarant and the declarant’s counsel shall act in accordance with subchapter III.
(c)Share of assets When the United States recovers any asset or assets specifically identified in a valid declaration filed under section 4221 of this title and the Attorney General determines that the asset or assets would not have been recovered if the declaration had not been filed, the declarant shall have the right to share in the recovery in the amount of 20 percent to 30 percent of any recovery up to the first $1,000,000 recovered, 10 percent to 20 percent of the next $4,000,000 recovered, and 5 percent to 10 percent of the next $5,000,000 recovered.
(d)Prohibition of double awards
(1)No person shall receive both an award under this section and a reward under either section 1831k of this title or section 3509A 1 of title 18 for providing the same or substantially similar information.
(2)When a person qualifies for both an award under this section and a reward under either section 1831k of this title or section 3509A 1 of title 18 for providing the same or substantially similar information, the person may notify the Attorney General in writing of the person’s election to seek an award under this section or a reward under such other section.
(e)Appropriate Federal banking agency exception For purposes of this section, funds or assets acquired by the United States shall not include any funds or assets acquired by any appropriate Federal banking agency acting in any capacity or the Resolution Trust Corporation acting in any capacity, except for any civil money penalties recovered by a Federal banking agency through a final judgement, order, or settlement.
(Pub. L. 101–647, title XXV, § 2580, Nov. 29, 1990, 104 Stat. 4901.)
Connections5 cite this · traces to 2
Cited by 5 sections
U.S. Code
statutes-at-large
7 references not yet in our index
- 1
- Pub. L. 101–647, title XXV, § 2580
- 104 Stat. 4901
- Section 3509A of title 18
- section 3059A of title 18
- Pub. L. 107–273, div. A, title III, § 301(c)(2)
- 116 Stat. 1781
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§ 4225
Rights of declarants; participation in actions, awards
Bills×2
U.S.C.×2
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Cite1
Pub. L.Pub. L. 101–647, title XXV, § 2580
Stat.104 Stat. 4901
CiteSection 3509A of title 18
Citesection 3059A of title 18
Cites 9 · showing 7Cited by 5 across 3 sources