§ 5241. Temporary increase in deposit and share insurance coverage
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/usc/title-12/section-5241A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Federal Deposit Insurance Act; temporary increase in deposit insurance
(1)Increased amount Effective only during the period beginning on October 3, 2008, and ending on December 31, 2013, section 11(a)(1)(E) of the Federal Deposit Insurance Act (12 U.S.C. 1821(a)(1)(E)) shall apply with “$250,000” substituted for “$100,000”.
(2)Borrowing limits temporarily lifted During the period beginning on October 3, 2008, and ending on December 31, 2013, the Board of Directors of the Corporation may request from the Secretary, and the Secretary shall approve, a loan or loans in an amount or amounts necessary to carry out this subsection, without regard to the limitations on such borrowing under section 14(a) and 15(c) of the Federal Deposit Insurance Act (12 U.S.C. 1824(a), 1825(c)).
(b)Federal Credit Union Act; temporary increase in share insurance
(1)Increased amount Effective only during the period beginning on October 3, 2008, and ending on December 31, 2013, section 207(k)(5) 1 of the Federal Credit Union Act (12 U.S.C. 1787(k)(5)) shall apply with “$250,000” substituted for “$100,000”.
(2)Borrowing limits temporarily lifted During the period beginning on October 3, 2008, and ending on December 31, 2013, the National Credit Union Administration Board may request from the Secretary, and the Secretary shall approve, a loan or loans in an amount or amounts necessary to carry out this subsection, without regard to the limitations on such borrowing under section 203(d)(1) of the Federal Credit Union Act (12 U.S.C. 1783(d)(1)).
(c)Not for use in inflation adjustments The temporary increase in the standard maximum deposit insurance amount made under this section shall not be used to make any inflation adjustment under section 11(a)(1)(F) of the Federal Deposit Insurance Act (12 U.S.C. 1821(a)(1)(F)) for purposes of that Act [12 U.S.C. 1811 et seq.] or the Federal Credit Union Act [12 U.S.C. 1751 et seq.].
(Pub. L. 110–343, div. A, title I, § 136, Oct. 3, 2008, 122 Stat. 3799; Pub. L. 111–22, div. A, title II, § 204(a), May 20, 2009, 123 Stat. 1648.)
Connections5 cite this · traces to 9
Cited by 5 sections
statutes-at-large
- Public Law 111–22To prevent mortgage foreclosures and enhance mortgage credit availability
- Public Law 110–343To provide authority for the Federal Government to purchase and insure certain types of troubled assets for the purposes of providing stability to and preventing disruption in the economy and financial system and protecting taxpayers, to amend the Internal Revenue Code of 1986 to provide incentives
statute-compilations
Traces to 9 documents
U.S. Code
public-private-law
14 references not yet in our index
- 1
- Pub. L. 110–343, div. A, title I, § 136
- 122 Stat. 3799
- Pub. L. 111–22, div. A, title II, § 204(a)
- 123 Stat. 1648
- 128 Stat. 2893
- act Sept. 21, 1950, ch. 967, § 2
- 64 Stat. 873
- act June 26, 1934, ch. 750
- 48 Stat. 1216
- Pub. L. 111–22, § 204(a)(1)(A)
- Pub. L. 111–22, § 204(a)(1)(B)
- Pub. L. 111–22, § 204(a)(2)(A)
- Pub. L. 111–22, § 204(a)(2)(B)
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§ 5241
Temporary increase in deposit and share insurance coverage
Stat.×2
U.S.C.×2
Stat. Comp.×1
Cite1
Pub. L.Pub. L. 110–343, div. A, title I, § 136
Stat.122 Stat. 3799
Cites 23 · showing 12Cited by 5 across 3 sources