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Code · U.S. Code · Title 12 - BANKS AND BANKING · CHAPTER 53— WALL STREET REFORM AND CONSUMER PROTECTION · SUBCHAPTER II— ORDERLY LIQUIDATION AUTHORITY · § 5394

Aa

§ 5394. Prohibition on taxpayer funding

189 words·~1 min read·/usc/title-12/section-5394

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(a)Liquidation required All financial companies put into receivership under this subchapter shall be liquidated. No taxpayer funds shall be used to prevent the liquidation of any financial company under this subchapter.

(b)Recovery of funds All funds expended in the liquidation of a financial company under this subchapter shall be recovered from the disposition of assets of such financial company, or shall be the responsibility of the financial sector, through assessments.

(c)No losses to taxpayers Taxpayers shall bear no losses from the exercise of any authority under this subchapter.

(Pub. L. 111–203, title II, § 214, July 21, 2010, 124 Stat. 1518.)

Connections3 cite this · traces to 1

Cited by 3 sections

statute-compilations

Sec. 214
PROHIBITION ON TAXPAYER FUNDING

statutes-at-large

Public Law 111–203
To promote the financial stability of the United States by improving accountability and transparency in the financial system, to end “too big to fail”, to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes

bill

Sec. 2
Definitions

Traces to 1 document

U.S. Code

Definitions
§ 5301

5 references not yet in our index

Pub. L. 111–203, title II, § 214
124 Stat. 1518
Pub. L. 111–203
124 Stat. 1442
section 4 of Pub. L. 111–203

Citation graph

cites case law

§ 5394

Prohibition on taxpayer funding

Bills×1

Stat. Comp.×1

Stat.×1

Pub. L.Pub. L. 111–203, title II, § 214

Stat.124 Stat. 1518

Pub. L.Pub. L. 111–203

Stat.124 Stat. 1442

Pub. L.section 4 of Pub. L. 111–203

Cites 6Cited by 3 across 3 sources